commercial law problem set 8.

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.ul vodafone AU 46 1:28 pm 6} 73% @D H coursehero.com Problem Set 8 The following problems and questions should be answered after you have read Chapters 15 and 16. 1. Look at question 5 of Problem Set 6. Assume that the directors of JV Investor have breached their duty to prevent insolvent trading. What consequences can follow? See [1112-180], [1115-140] and 5131'lE of the Corporations Act 2. Look at question 3 of Problem Set 7. Assume for the purposes of this question that the board of AMGL issued 500,000 shares in breach of its duty to exercise the share issue power for a proper purpose. What action, if any, can ASIC take against the directors who voted in favour of the share issue? See [1113-180] [ms-300], [1l15-14D] and 51317E of the Corporations Act 3. What action, if any, can Mr Xu and XYZ Ltd take in relation to the improper share issue? See [ms-210], [1116-240] and nus-400141115420] 4. Look at question 5 of Problem Set 7. Assume Patricia makes the investment and it is highly profitable. What action, if any, could SAFPL take against Patricia? See [1115-140], [1115-210], slSl'lH of the Corporations Act and Regal (Hastings) 1/ Gulliver 5. What action, if any, could Jason take against Patricia? See [le-210] 6. The constitution of SAFPL allows for the directors to pay a dividend to holders ofA Class shares at their discretion. Over many years, the company had paid a dividend which, although not sizable, was sufficient for the shareholders who chose to do so, to live on. However, David and his siblings are angry about the discontent that Jason has been stirring up among the Henry grandchildren, some of whom they see as lazy and undeserving. So the board of SAFPL resolves not to pay a dividend to the A Class shareholders this year, and instead, to retain earnings to fund the development of the organic farm in the Riverina. What action, if any, can the Henry grandchildren take in respect of non-payment of the dividend? See [le-210], 55232 and 233 ol the Corporations Act and Thomas v H W Thomas er Stuc ? We have tu ors online 24/7 who can help you get unstuck. Ask Expert Tutors