Further victories for minority shareholders

Article Abstract:

The Australian High Court and Federal Court made two separate rulings in favor of minority shareholders. The High Court decision, in Gambotto v. WCP, held that shares were property rights and so could not be expropriated by the majority shareholders. The Federal Court decision, in Aloridge Pty Ltd v. West Australian Gem Explorers Pty Ltd, allowed a minority shareholder to amend a provisional liquidation application with allegations of mismanagement despite the corporation directors' opposition.

Liquidation, Articles of incorporation

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The Ralph "Report"

Article Abstract:

The Ralph Committee has issued a "Review of Business Taxation" for Australia. The Committee has comprehensively outlined the various options in this area, but it is doubtful that the Australian government will act on any of them given its penchant for piecemeal tax legislation. The report covers the taxation of entities, competition law, and corporate takeovers.

Taxation, Reports, Corporate taxes, Tax reform, Corporations

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Can a minority shareholder oppress a majority shareholder -- not in most cases!

Article Abstract:

Polyresins Pty. Ltd., a 1998 decision of the Queensland Supreme Court, in which the company's majority shareholder sought an order for oppression, is discussed. The court rejected the request, noting that the shareholder was really seeking an order to have his investment liquidated, not an order for oppression..

Stockholders

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