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Oppression Actions: Sections 232 and 233 of the Corporations Act (Cth)
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| Date | 13.12.2016 | | Size | 3.6 Kb. | | #3788 |
| Oppression Actions: Sections 232 and 233 of the Corporations Act (Cth) General Principles - Section 232: 4 Distinct Grounds and a Composite Whole
- Section 232(d) and (e): Commercial Unfairness
- Section 232 (d): Independent Ground
- Objective Test of Unfairness
- Scope and Aim of Sections 232 and 233
- Past Conduct
- Acquiescence and Consent
- Self-help
- Onus of Proof
- Role of Management
- When a Court May Intervene
Quasi- Partnership Cases - 3 Elements Identified in Ebrahimi v Westbourne Galleries Ltd
- Implication of a Right to Participate in Management
- Unjust, inequitable and Unfair for the Use of Majority Voting Power to Remove the Minority from Management
- Circumstances in Which a Right to Participate in Management May be Lost
- Relief May Only be Granted Where Participation in Management Affords a “Return for Investment”
Share Issues - Purpose of the Share Issue
- When Dilution of the Voting Power of the Minority via a Share Issue May be Permitted
Litigation Costs - When Payment by the Company of Legal Costs Incurred by the Majority in Defending Proceedings May Constitute Oppression
- Considerations which Militate Against a Finding of Oppression
Denial of Access to Information - When Denial of Access to Information may Amount to Oppression
Remedies - Plenary Power under Section 233
- General Principles Governing the Exercise of Discretion
- Winding Up as a Last Resort
- The Ordinary Order
- Valuation of Shares
- Extraordinary Orders
Related Remedies Claims against Creditors and Directors by a Company in Liquidation - Law Society of the Northern Territory
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