Scully Royalty Ltd. (SRL) said a Cayman Islands court ruled against the MILFAM Group, finding that MILFAM Group and its purported directors never held authority to act on the company’s behalf. The decision is a negative legal outcome that may heighten governance/authority scrutiny around prior actions, though no financial magnitude was disclosed in the excerpt.
Scully Royalty Ltd. (SRL) said a Cayman Islands court ruled against the MILFAM Group, finding that MILFAM Group and its purported directors never held authority to act on the company’s behalf. The decision is a negative legal outcome that may heighten governance/authority scrutiny around prior actions, though no financial magnitude was disclosed in the excerpt.
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