Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Insolvency and BankruptcyAugust 20, 2024Case LawsAT
Corporate dispute involving allegations of oppression and mismanagement by equal shareholders. Key points: Oppression implies lack of probity or equity, intention behind actions relevant. No majority shareholder, issue of control over management. Appointment/removal of directors not oppression. Quasi-partnership principles applicable. Casting vote misused for personal benefit after dispute arose. Disqualifying both directors impermissible. Removing casting vote justified to prevent one group's control. Equal shareholders entitled to board representation based on shareholding.
Corporate dispute involving allegations of oppression and mismanagement by equal shareholders. Key points: Oppression implies lack of probity or equity, intention behind actions relevant. No majority shareholder, issue of control over management. Appointment/removal of directors not oppression. Quasi-partnership principles applicable. Casting vote misused for personal benefit after dispute arose. Disqualifying both directors impermissible. Removing casting vote justified to prevent one group's control. Equal shareholders entitled to board representation based on shareholding.
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