Company Law:

Groves Pty Ltd is a company formed to run the family business of Percy and Sigrid Groover and for family members to be employed in the business. The family business involves operating a caravan park on the Sunshine Coast. The business has been very successful over a number of years and remains profitable. Percy and Sigrid each own 40% of the shares in Groves Pty Ltd and are the only directors. The other 20% of the shares in the company are owned by their adult son, Jet. Jet has graduated with a degree in business and is anxious to make his fortune. He has for several years been concerned at the way the company is being run. He has had several arguments with them and now has stopped talking to them. He has pleaded with Percy and Sigrid to sell the land on which the caravan park is operated which is now valuable and is sought after by developers. Jet has complained that the company is not paying dividends as it has been company policy to re-invest the profits in the company.

Advise Jet as to his prospects of obtaining a remedy based on an action under section 232.