Westin Ltd is a large company with 2000 members and $20 million issued share capital. Johnston Pty
Question:
Westin Ltd is a large company with 2000 members and $20 million issued share capital. Johnston Pty Ltd holds two thousand shares in Westin Ltd.Felicity Maher is Johnston Pty Ltd's representative.
Felicity considers that the directors of Westin Ltd have been pursuing the wrong business opportunities and that this has cost the company significant profits. She wishes to convene a meeting of members to deal with this matter.
Felicity is informed by a former Westin Ltd employee that the directors of Westin Ltd have been fraudulently appropriating the company's property and have been falsifying the company's books to conceal their conduct.
REQUIRED:
If the directors have been misappropriating the company's assets, what action can Felicity initiate in the Court under the provisions of the Corporations Act to restore the company's property?
NOTE: You are required to use the 4 Steps, process in answering this question.