Judgment was today handed down in Zavarco Plc v Nasir  EWHC 2877 in which the Court found, following a 4 day trial, in favour of Zavarco Plc that the Defendant’s 360 million subscriber shares of €0.10 had not been fully paid up and were liable to be forfeited by the company. Mark Harper QC, instructed by Sharon Needle of Needle Partners Limited, acted on behalf of Zavarco. The case explored the position under and interaction between sections 583, 584, 593 and 594 Companies Act 2006. The case is the latest arising (both here and in Malaysia) out of the battle for ownership and control of Zavarco, a telecommunications business .
A copy of the judgment can be found here.
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