![]() ![]() That left Mr Tolaini with 74 shares and Mr Dufoo with 26. ![]() On 7 September 2008, 99 shares with a par value of 1 each were issued, with 73 allotted to Mr Tolaini and 26 to Mr Dufoo. QML was incorporated in May 2008, and either then, or at some point subsequently, the one subscriber share was issued to Mr Tolaini. However, clearly there has been thought to be enough money at stake for the right to share in it to matter a great deal to the parties. The parties' estimates as to what the ultimate share of profit which will be paid to QML under the Profit Sharing Agreement have varied. There is also an agreement, dated 14 March 2012 ("the Profit Sharing Agreement"), between C Group and QML for QML to receive in turn a share those profits. There is an agreement between McLaren and C Group for C Group to receive a share of the profits from the development. McLaren was introduced to the property by a company called C Group Developments Limited ("C Group"), which in turn was introduced to the property by QML. 6 Upper Brook Street was purchased in October 2011 by Bridleway Limited, a company in the McLaren group of companies ("McLaren"), with a view to redeveloping it. QML has only one asset - a right to a share in the profits from the development of a building at 6 Upper Brook Street in Mayfair. One of the individuals who claims to be entitled to shares, Mr Alun Dufoo, seeks an order for the winding up of QML under s.122(1)(g) of the Insolvency Act 1986 on the ground that "the court is of the opinion that it is just and equitable that the company should be wound up".ΔΆ. There is a dispute as to the entitlement to those shares. At the moment, they are all registered in the name of Jean-Paul Tolaini (often referred to in the documents as "JP"). These proceedings relate to a company called Quiet Moments Limited ("QML"). ![]()
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