Taming the unfair prejudice remedy: Sections 459-461 of the Companies Act (1985) in the House of Lords

THE shape of the unfair prejudice remedy–sections 459–461 of the Companies Act 1985–owes much to the influence of Lord Hoffmann, for throughout his judicial career he has played a leading role in the remedy's development (see, e.g., Re a Company [1986] B.C.L.C. 376 and Re Saul D. Harrison & Sons plc [1995] 1 B.C.L.C. 14 (C.A.)). In Re a Company (No. 00709 of 1992) [1999] 1 W.L.R. 1092 (O' Neill v. Phillips), the House of Lords considered sections 459–461 for the first time. In a strong, wide-ranging judgment, Lord Hoffmann delivered the opinion of the House. By reasserting the remedy's contractual focus, he sought to bring greater certainty to its operation; in so doing, he signals a restriction in the remedy's ambit.