ANTIGUA Law and Practice Contributed by: C. Debra Burnette, CDB Legal Services
9.5 Directors’ Ability to “Just Say No” Directors cannot “just say no” to a business combination, without justification. Directors must be mindful of their fiduciary duties to act in the best interest of the company and to have due regard for the interest of the shareholders. Direc - tors cannot refuse to act without just cause.
10.3 “Broken-Deal” Disputes A marginal number of broken deals have been seen, which were largely due to parties need - ing to know their “partners in business” better or have more patience during due diligence. 11. Activism 11.1 Shareholder Activism Shareholder activism is not an important force in this jurisdiction. 11.2 Aims of Activists As per the response at 11.1 Shareholder Activ- ism , there is no applicable information in this jurisdiction. 11.3 Interference With Completion As per the response at 11.1 Shareholder Activ- ism , there is no applicable information in this jurisdiction.
10. Litigation 10.1 Frequency of Litigation
Litigation is not very common; this is due to the low number of M&A deals over recent years together with the recession caused by COVID-19, which Antigua and Barbuda is now emerging from. 10.2 Stage of Deal Litigation not being common, there is no stage at which proceedings have been brought.
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