C&W case ‘one for damages’


Minority shareholders battling Cable & Wireless (Barbados) Limited (C&W) in court should be “confined” to monetary damages if they win their class action suit.

The group of shareholders had sought and received a temporary injunction restraining the company from cancelling the shares of the minority shareholders and delisting the company from the Barbados Stock Exchange.

However, on January 12 Acting High Court Judge Alrick Scott lifted the injunction in the matter involving the amalgamation of C&W and CWB Ltd.

And in doing so, Scott criticised the group of shareholders for the “unreasonable” time they took to seek interim relief before the full trial.

The minority shareholders, represented by claimants Kenneth Went, Omstand Investments Inc. and Philip Osborne, want to remain C&W shareholders and for the company to remain listed on the Barbados Stock Exchange. (SC)

Please read the full story in today’s Sunday Sun, or in the eNATION edition.


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