Question
Eco Sdn. Bhd.s constitution restricts its activities to the production of recycledpaper products and such activities as are reasonably incidental thereto. Ecoenters into a contract
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Eco Sdn. Bhd.s constitution restricts its activities to the production of recycledpaper products and such activities as are reasonably incidental thereto. Ecoenters into a contract to provide a glass and paper collection service to the City of Merri which had poor environmental record. Can Susan as a shareholder of Eco Sdn Bhd., have the contract set aside?
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Zee Sdn. Bhd. was registered in 2010. Allen and Mike are its only shareholdersand directors. Zees constitution provides that Clara is to be Zees solicitor. Clara is Mikes wife, but after marriage difficulties they have recently separated. Clarahas just received a letter from Zee stating that her services are no longer required. Advise Clara.
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The articles of Doo Doo Bhd. provide inter alia: (i) Any shareholder appointed to the position of managing director shall hold the position for life.
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(ii) Any shareholder who at any time wishes to transfer any or all of his shares shall first offer them to existing shareholders of the company who shall beobliged to purchase such shares at the original purchase price.
In January, Peter, a shareholder, was appointed managing director of Doo Doo Bhd. The board of directors has taken a decision to dismiss Peter forthwith because of his poor performance on the job to date.
Yazu, a shareholder, wishes to sell his shares and has received an offer from Brian, who is not a shareholder, to buy the shares at a price well above the original purchase price. Mark, an existing shareholder, is adamant that he should be given the opportunity to purchase Yazus shares at the original purchase price.Yazu is the only shareholder who currently holds less than 5% of the shares of Doo Doo Bhd. Advise.
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