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Published bySeth Callahan Modified over 11 years ago
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Oppression Actions: Sections 232 and 233 of the Corporations Act (Cth) Law Society of the Northern Territory Geoff Clift
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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
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Board Decisions Role of Management When a Court May Intervene
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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
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Management Fees and Payment of Dividends Ripping off the Company Independent Advice on Management Fees Dividend Policies Management Fees as De Facto Dividends
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Share Issues Purpose of the Share Issue When Dilution of the Voting Power of the Minority via a Share Issue May be Permitted
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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
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Denial of Access to Information When Denial of Access to Information may Amount to Oppression
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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
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Related Remedies Section 461 (1) (k) Section 109 of the Associations Act
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Conclusion and Questions
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Claims against Creditors and Directors by a Company in Liquidation Law Society of the Northern Territory Guy Newton
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