Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Katie Mcdermott is a retired entrepreneur. She holds a significant number of shares in Nimble Technologies Pty Ltd. Katie has been quite unhappy about the

image text in transcribed
Katie Mcdermott is a retired entrepreneur. She holds a significant number of shares in Nimble Technologies Pty Ltd. Katie has been quite unhappy about the management of the company. particularly as it seems that directors have had pay increases each year. and seem to have significant benets in the form of cars. trips and various other expenses paid on their behalf. Katie suspects that the directors are acting generally for their own benefit, and not in the interests of all shareholders. She is particularly interested in how certain shareholders have increased their holdings. and whether the company has been assisting a particular group of shareholders at the expense of the shareholders in general. While Katie has aslced various questions at company meetings, she is not satisfied with the answers she has received. She believes there may be a case for bringing an action against the directors under some part of the Corporations Act. Katie needs to gather some information so that she can determine whether to bring an action for oppression or perhaps a statutory derivative action against directors who are misusing their position. Explain with reference to specific sections of the Corporations Act 2001 (Edi): {Maximum 300 words] a} What are the means that Katie might attempt to use to gather information about the company. in order to consider her options in taking action? b} If Katie does find that the company is acting unfairly or prejudicially against some members, what type of action can he instigate

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Criminal Law Cases And Materials

Authors: Cynthia Lee, Angela Harris

4th Edition

1683284062, 978-1683284062

More Books

Students also viewed these Law questions

Question

1. What does this mean for me?

Answered: 1 week ago