Commercial Law, 2019 Bar — Question A.5-a

ESSAY

Mr. Y filed a case captioned as “Injunction with Prayer for Status Quo Order, Temporary Restraining Order and Damages” against Z Company to prohibit the latter from selling shares which Mr. Y alleged that the subscription for the said shares was already partly paid by him, but the subject shares were nonetheless being offered for sale by Z Company to the corporation's other stockholders. (a) Is the case filed by Mr. Y against Z Company considered an intra-corporate dispute? Explain.

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