Microsoft Corporation (“Microsoft”), a minority shareholder of the Respondent Company Vadem Ltd (“Vadem”), was granted leave to bring claims derivatively in the name of Vadem under Section 184C of the BVI Business Companies Act, 2004. The Learned Judge, however, also made statements in his written judgment that Microsoft had no authority to prosecute, here or elsewhere, claims vested in Vadem California, which is Vadem’s wholly owned subsidiary. These statements effectively limited the scope of the leave granted to Microsoft. Microsoft appealed seeking an order that the permission previously granted be extended to include claims involving causes of action vested in California.
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Microsoft Corporation -v- Vadem Ltd Claim No. BVIHCVAO2013/007