Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 222

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 222
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 not ultra vires,                                                                                             
 requires authorization by a qualified (or special) majority (that is, more than a simple majority) which has not been obtained; and |
| ● | an act which constitutes a “fraud                                                                                                   
 on the minority” where the wrongdoers are themselves in control of the company.                                                     |

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A shareholder may have a direct right of action against
us where the individual rights of that shareholder have been infringed or are about to be infringed.

Enforcement of Civil Liabilities. The Cayman
Islands has a different body of securities laws as compared to the United States and provides less protection to investors. Additionally,
Cayman Islands companies may not have standing to sue before the Federal courts of the United States.

We have been advised by Ogier, our Cayman Islands
legal counsel, that there is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce against us judgments
of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or
any state, and (ii) entertain original actions brought in each respective jurisdictions against us or our directors and officers predicated
upon the securities laws of the United States or any state in the United States.

There is no statutory enforcement in the Cayman Islands
of judgments obtained in the United States, the courts of the Cayman Islands will in certain circumstances recognize such foreign money
judgment and treat it as a cause of action in itself which may be sued upon as a debt at common law so that no retrial of the issues
would be necessary provided that (i) the court issuing the judgment is of competent jurisdiction; (ii) the judgment is final and conclusive
and for a liquidated sum, (iii) the judgment given was not in respect of taxes or a fine or penalty or similar fiscal or revenue obligation
of the company; (iv) in obtaining the judgment there was no fraud on part of the person in whose favor judgment was given or on part
of the court; (v) recognition or enforcement of the judgment would not be contrary to public policy in the Cayman Islands; and (vi) the
proceeding pursuant to which judgment was obtained were not contrary to natural justice. A Cayman Islands Court may stay enforcement
proceedings if concurrent proceedings are being brought elsewhere.

Special Considerations for Exempted Companies. We are an exempted company with limited liability