Question
Easy Parking Pty Ltd was set up to acquire land to establish permanent parking villages for owners of small houses. The shareholders are a group
Easy Parking Pty Ltd was set up to acquire land to establish permanent parking villages for owners of small houses. The shareholders are a group of wealthy self-funded retirees. The directors of the company are a former bank manager, Ravi Patel, and former actor, Sangeeta Gurung. The company acquired a large block of land in rural Victoria but after five years, was ' unable to obtain permission from the local council to develop the site as intended. The company sells the land for slightly more than the purchase price. Rony and Rachel, as shareholders, are very upset as they think that the land should have been sold fora higher price. They also believe that rumours the land has been sold to another company owned by Ravi and Sangeeta. Required: Advise Rony and Rachel about what rights they might have under the Corporations Act 2001 (Cth) to address their concerns.
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