Appeal Court dismisses Sturgess claim over Greymouth Petroleum

Tue, 24 Jun 2014

By Jonathan Underhill June 24 (BusinessDesk) - The Court of Appeal has turned down an attempt by Greymouth Petroleum minority shareholder John Sturgess to overthrow a High Court ruling on the sale of his shares. In a judgment issued today, Justices Tony Randerson, Forrest Miller and Douglas White found for respondents Robert Dunphy and associates, and other shareholders and directors. In this case Sturgess was found to have pushed the envelope with a shareholders agreement that gave him and the majority shareholders rights of veto over th...

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