Courts / Dublin / Report
Tech firm seeks to stop alleged hostile takeover
Summary
Ubiqube (Ireland), a software development company, applied to the High Court for an injunction to stop three individuals from acting as directors of the company. The defendants are Mr Jean‑Louis Clement, the company PIP Holdings Limited (which Clement allegedly controls), Mr Declan Merry, and Stephen McClure. Ubiqube claims that Clement and PIP Holdings, which own about 16% of the shares, have attempted a hostile takeover by appointing Merry, McClure and Clement to the board. The company says the resolution used to appoint them is unlawful and breaches the 2014 Companies Act, and that no evidence shows more than 50% of shareholders signed it. The court granted an ex‑parte injunction and allowed Ubiqube to serve the proceedings on two defendants, noting Clement is in Toronto and PIP is in Hong Kong. The injunction aims to remove confusion and bring certainty to the business.
Who, what, where, when and why
What: Report matter: Tech firm seeks to stop alleged hostile takeover. Procedural stage: hearing_or_decision
When:
- 2022-10-05 Publication
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