Question
The directors of Bright Star Pty Ltd have made a new share issue at a time when it is subject to a hostile takeover bid.
The directors of Bright Star Pty Ltd have made a new share issue at a time when it is subject to a hostile takeover bid. Some shareholders have said that this action is not in the best interests of the company nor is it for a proper purpose.
Discuss whether the company is in breach of s 181 of the Corporations Act 2001
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Law for Business
Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards
13th edition
1259722325, 978-1259722325
