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What exactly is a section 293 direction?
There are several reasons why a shareholder may require financial information, primarily they are denied access to the ‘accounts’ so as to make informed decision about the company. The Corporations Act 2001 (Cth) (Act) provides various mechanisms for shareholders to obtain financial and accounting information about a company, to allow them to access full and…
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Director’s misuse of funds held to be oppressive
This article explores shareholder oppression, examining Section 232 of the Corporations Act 2001 (Cth) and Martin v Australian Squash Club Pty Ltd (1996) 14 ACLC 452, to understand the cumulative effect of individual acts.
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Shareholder oppression – valuation issues
The Federal Court granted an order for the inspection of books of the defendant company in Rasley (Singapore) Pte Ltd v Financial & Energy Exchange Ltd [2020] FCA 1462, subject to conditions, as the applicant had established a proper purpose and good faith.
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Shareholders’ right to information
When shareholders are restricted from accessing company information, it may be a sign of a dispute. The Corporations Act 2001 (Cth) provides mechanisms for minority shareholders to obtain relevant information, but they must prove they are acting in ‘good faith’ and ‘for a proper purpose’.
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What exactly is a Mareva Order?
This article outlines the legal implications of Exclusive Supply Contracts, or Exclusive Dealing, and provides an overview of the types of clauses, when they may be illegal, and when they may be requested by both Suppliers and Purchasers.
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Share vesting agreements – is compulsory acquisition a penalty?
Drafting a Share Vesting Agreement requires consideration of several factors, including securities, copyright, class of shares, taxation, congruence, Events of Default, issuing all shares, and Events of Default/Forfeiture clauses to avoid penalties.
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Shareholder disputes – a fight for control
Shareholder Disputes are a common issue for Australian proprietary limited companies. This article outlines the laws, tactics and remedies available to help resolve them.
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Shareholder oppression
What is shareholder oppression? Shareholder oppression can occur when the majority shareholders in a company misuse their power to oppress the minority shareholders.
Shareholder oppression
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