On Tuesday 6 October 2026, judgment was handed down in the latest instalment of the sprawling Koza litigation.
The litigation is in essence a battle for control over an English company, Koza Ltd, which has been raging for over a decade. The protagonists are Turk Altin, a Turkish company and 100% ordinary shareholder, and Mr Ipek, an entrenched director who claims to be the holder of an A share. The litigation has been raging for over a decade and has generated over 25 hearings in the High Court, four hearings in the Court of Appeal, and one hearing in the Supreme Court.
The latest judgment principally concerns Turk Altin’s petition to wind up Koza Ltd on the just and equitable ground, and its application for summary judgment on that petition. The summary judgment application was granted by Thompsell J.
The arguments on the application ranged widely, covering issues such as: (i) the nature and breadth of the just and equitable winding up jurisdiction; (i) the rights and obligations of both shareholders and directors in relation to special resolutions which compel directors to take specific actions; and (ii) the circumstances in which a petitioner can reasonably refuse to pursue alternative remedies in the form of offers from third parties. All of those issues are addressed in the judgment.
The judgment also addresses Turk Altin’s alternative Part 8 claim for an injunction compelling compliance with certain special resolutions (which in the event did not need to be determined) and Mr Ipek’s application to serve an unfair prejudice petition out of the jurisdiction (which was refused on the basis that it raised no serious issue to be tried).
David Caplan KC appeared for Turk Altin, instructed by Mishcon de Reya LLP.