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Tom is a minority shareholder of Aussie Mines Ltd. He comes to you and complains that the directors have sold company assets and have used
Tom is a minority shareholder of Aussie Mines Ltd. He comes to you and complains that the directors have sold company assets and have used the proceeds from the sale to purchase an island resort in their own names. He also tells you that the directors are the controlling shareholders of the company and they have ratified their own acts at a recent general meeting.
Advise Tom, who wants to initiate an action against the directors what remedies are available to him.
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