12 May IS THE REMOVAL OF MR OWENS CONVENIENT OR NECESSARY?
GML owns 92% of the issued shares in Explorer Ltd. The remaining 8% of the shares are held by five individuals, including a Mr Owen who owns 0.5% of the issued shares. Mr Owen is a high profile individual who has, at times, been critical of the Chinese governmentâs activities in the South China Sea. GML is concerned that its ongoing association (through Explorer) with Mr Owen may harm its relationship with its Chinese customers. At a meeting of Explorer, a resolution is passed amending the constitution of Explorer, to allow any member who is entitled to at least 90% of the issued shares of Explorer to acquire compulsorily, the shares of any other member at a price of $20.00 per share. Explorer shares have recently been valued by an independent expert at $15.78. Mr Owen does not attend this meeting and the majority shareholder (GML) does not vote. The resolution is passed unanimously by the four other minority shareholders. Mr Owen is challenging the validity of the amendment. Having regard to the decision in Gambotto, will his challenge succeed?Issue:Rule/Law: Equitable limitation on majority voting power. Explain in your own words.Application of law: Is the removal of Mr Owens convenient or necessary? Price?Conclusion: Reasonable conclusion
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.