A former superyacht management company director has secured a court injunction in a dispute over the buy-out of his shares.

But granting Robert Tobin an urgent interim injunction against Dohle (IoM) Ltd, Deemster Andrew Corlett said it would be highly desirable for the parties to sit around a table and resolve the issue as he could see it becoming ’very protracted and difficult’.

Mr Tobin is bringing arbitration proceedings against Dohle in the London Court of International Arbitration.

He was a minority shareholder in the company which provides superyacht management services under the trading name of Dohle Yachts.

Mr Tobin says he was responsible for the management and operation of the company from the date it began trading in 2008 until he gave notice of resignation in November 2016.

He was on three months’ garden leave and formally left the company in February 2017. He says he was in effect the managing director although not formally appointed to that position until June 2013 but continued to hold that role until he resigned.

Mr Tobin ceased to be a director of the company in February 2017.

He was party to a shareholders’ agreement dated November 2008 under which his shares could be bought out.

On November 13 last year a notice was served on him purportedly in accordance with that shareholders’ agreement.

He received £1.25m the following month after his single share was transferred, the value being subject to a 25% reduction due to his alleged misconduct.

Mr Tobin disputes the price he was paid for his share.

He sought an injunction to preserve his title to his share pending resolution of the dispute by arbitration.

Deemster Corlett said he was satisfied that there is a serious question to be tried in this case.

He described the shareholders’ agreement as an ’unfortunate document’ and agreed the use of it by the defendants is ’untenable’.

The court heard that Mr Tobin has been in competition with Dohle since April 2018 when he formed a company called Riela Yachts Limited.

It seems no action whatsoever has been taken by Dohle to stop this.

Deemster Corlett said the claimant has a strong case that the transfer of his share is quite probably likely to be held void since it relies on provisions which in simple terms just do not work.

Dohle’s lawyer argued that this is a case about money and the price which Mr Tobin is prepared to accept for his shares.

But the Deemster said it is not quite as simple as that and damages would not be an adequate remedy for either side.