In this particular scenario, you might start off by identifying some of the Material Facts, such as:

• Max is the managing director and hold 30% of the shares for Acme Pty Ltd.
• Jane (not a director) and her husband, Alex (non-executive director), hold the remaining 70% shares in Acme Pty Ltd.
• Max is concerned Jane and Alex are misappropriating company funds.
• Potentially trading insolvently, with bills going unpaid.
• Validity of meeting called by Jane, to remove Max as director and appoint herself as director.

After discussing the facts, you might consider the legal issues:

• Is the company trading insolvently?
• Have any director's duties been breached?
• Appropriateness of the meeting called by Jane to replace max as director?

Complete the rest of MIRAT. What would you add?