GENERAL ASPHALT COMPANY, LTD. v. ANGLO-SAXON PETROLEUM COMPANY, LTD.

(1931) 39 Ll L Rep 148

KING'S BENCH DIVISION.

Before Mr. Justice Roche.

Contract - Company law - Plaintiff and defendant companies engaged in joint venture in exploitation of oil - Joint venture terminated and different arrangement substituted - Agreement between defendant company and plaintiff company that defendant company "will use such rights as it may possess and such influence as it can exercise to procure the Colon [in which defendants held a controlling interest] to deliver to them [plaintiffs] or as they may from time to time in writing direct during the life of the Vigas concession" a certain percentage of the crude oil produced from that concession- Construction - Whether contrary to doctrine that influence of majority shareholders may not be used to prejudice of minority shareholders-