Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Wow Company Sdn Bhd is a company having business activities in the construction industry. Aidil, Zul and Hafizi are the directors of the company. In

Wow Company Sdn Bhd is a company having business activities in the construction industry. Aidil, Zul and Hafizi are the directors of the company. In March, they secured a project to build a railway train in Pasir Gudang, notwithstanding the fact that the company is also negotiating for the project. As they were also the majority shareholders of the company, they passed a resolution to declare that the company had no interest in the said project. Kamal, who holds 5% of the company's shares has objected to the said resolution. However, the objection raised by Kamal has created insecurity for Aidil, Zul and Hafizi as the directors and majority shareholders of the company. They subsequently passed another members' resolution to alter the company's constitution. The resolution would require Kamal to sell his shares if requested by the member[s] that are holding 90% of the company's shares. This was carried out with the intention to remove the minority shareholder, which is Kamal. Kamal, being dissatisfied with the above action, wishes to take a legal action against the majority shareholders. Advise Kamal

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

Law Express Employment Law

Authors: David Cabrelli

7th Edition

1292295252, 978-1292295251

More Books

Students also viewed these Law questions

Question

Who should prepare the business plan?

Answered: 1 week ago

Question

How are most students funded?

Answered: 1 week ago

Question

1. What does this mean for me?

Answered: 1 week ago