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% Document Info
\author{daniya (daniya)}
\pdfinfo{
  /Title (company-law-statutory-minority-protection.pdf)
  /Creator (Cheatography)
  /Author (daniya (daniya))
  /Subject (Company Law | Statutory Minority Protection Cheat Sheet)
}

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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Company Law | Statutory Minority Protection Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{daniya (daniya)} via \textcolor{DarkBackground}{\uline{cheatography.com/183845/cs/38320/}}}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}daniya (daniya) \\
  \uline{cheatography.com/daniya} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 23rd April, 2023.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
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\begin{document}
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{summary of facts}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- briefly state case facts} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- mention issues at hand} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- topics to which question relates} \tn 
% Row Count 3 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{general introduction}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{in continuation of the 'majority rule' which commands a weighty part of company law as a whole, minority SHs are bound to the decisions voted in general meetings.} \tn 
% Row Count 4 (+ 4)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Although this rule generally posses a great many advantages, as a concequence, the minority might, at times, may find themselves unfairly discriminated against.} \tn 
% Row Count 8 (+ 4)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{By way of protection, Statute law henceforth furnishes out some remedial provisions so as to prevent such discrimination to stand} \tn 
% Row Count 11 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{section 994 (CA, 2006)}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- where the company's affairs or an act/omission of or on behalf of the company results in SH being 'unfairly prejudiced'} \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- non-exhustive list of remedies} \tn 
% Row Count 4 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-asterisk\}\}{\emph{BUT}}, petitioners gen. seek order for buyout (purchse of shares by defendant) ({\bf{Grace v Biagioli}})} \tn 
% Row Count 7 (+ 3)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{need do not only apply to Ds. Can also be used against other SH or 3rd parties} \tn 
% Row Count 9 (+ 2)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- need to prove three elements to succeed} \tn 
% Row Count 10 (+ 1)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{ac\}\} {\bf{{\emph{Complained Conduct is an Act/Omission of Company}}}}} \tn 
% Row Count 12 (+ 2)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- behaviour MUST concern runnig of business} \tn 
% Row Count 13 (+ 1)
% Row 7
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- courts have adopted an exapnsive approach to this critera} \tn 
% Row Count 15 (+ 2)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- actions taken by SH or Ds taken outside the 'organs' of the company ({\bf{Oak Investements}})} \tn 
% Row Count 17 (+ 2)
% Row 9
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{Graham v Every}} - pre-emption does'nt fall into ambit of 'running of company'} \tn 
% Row Count 19 (+ 2)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{ac\}\} {\bf{Prejudical to the SH's Interests}}*} \tn 
% Row Count 20 (+ 1)
% Row 11
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. {\bf{{\emph{Prejudicial}}}}} \tn 
% Row Count 21 (+ 1)
% Row 12
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-cf SH proviso CA, 200aret-right\}\} conduct harms petitioner's interests} \tn 
% Row Count 23 (+ 2)
% Row 13
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} tested objectively = delibrate harm or bad faith needn't be shiwn ({\bf{Re Saul}})} \tn 
% Row Count 25 (+ 2)
% Row 14
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. {\bf{{\emph{Interests}}}}} \tn 
% Row Count 26 (+ 1)
% Row 15
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} petitioner must be SH {\bf{{\emph{BUT}}}} conduct of complaint needn't affect them in their capacity as SH} \tn 
% Row Count 29 (+ 3)
% Row 16
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{exclusion fromm management ({\bf{Phoenix Office Supplies v. Larven}})} \tn 
% Row Count 31 (+ 2)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{section 994 (CA, 2006) (cont)}}  \tn
% Row 17
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{Mismanagement - breach of DD's skill \& care) ({\bf{Re Macro}})} \tn 
% Row Count 2 (+ 2)
% Row 18
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Excessive renumeration by D + failure to pay dividends ({\bf{Re CF Booth}})} \tn 
% Row Count 4 (+ 2)
% Row 19
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{Breach of fiduciary duties ({\bf{Re LOEW}})} \tn 
% Row Count 5 (+ 1)
% Row 20
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} refers to legal rights of SH proviso CA, 2006 | constitution | SH agreements} \tn 
% Row Count 7 (+ 2)
% Row 21
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} SH rights are quite limited in} \tn 
% Row Count 8 (+ 1)
% Row 22
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} hence Courts delibrately read 'interests' widely} \tn 
% Row Count 10 (+ 2)
% Row 23
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-asterisk\}\} especially in 'quasi-partnership' (QP) companies} \tn 
% Row Count 12 (+ 2)
% Row 24
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{Ebrahimi v WG}} - QP require (1) personal rel. b/w SH involving mutual confidence ||| (2) agreement some/all to paricipate in compant management ||| (3) restrictions placed on share transfer} \tn 
% Row Count 16 (+ 4)
% Row 25
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-asterisk\}\} QP may exist b/w some SH but not others ({\bf{Waldron}})} \tn 
% Row Count 18 (+ 2)
% Row 26
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-angle-right\}\} QP 'interests' = legitimate expectations || equitable considerations || informal agreements ({\bf{Re Sam Weller}})  ({\bf{Re a Company}})} \tn 
% Row Count 21 (+ 3)
% Row 27
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. {\bf{{\emph{Unfairness}}}}} \tn 
% Row Count 22 (+ 1)
% Row 28
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} prejudice harms petitioner's interests {\bf{{\emph{unfairly}}}}} \tn 
% Row Count 24 (+ 2)
% Row 29
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} sometimes, conduct is prejudicial {\emph{BUT}} not unfair} \tn 
% Row Count 26 (+ 2)
% Row 30
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{(a) where petitioner's own disruptive behaviour resulted in unreasonable conduct ({\bf{Waldron}})} \tn 
% Row Count 28 (+ 2)
% Row 31
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{(b) petitioner given reasonable offer for shares but unreasonably refused that offer ({\bf{O'Neill v Phillips}})} \tn 
% Row Count 31 (+ 3)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{section 994 (CA, 2006) (cont)}}  \tn
% Row 32
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{ac\}\} {\bf{{\emph{SHARE VALUATION}}}}} \tn 
% Row Count 1 (+ 1)
% Row 33
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- one petitioners wins case, will most likely want to buyout ({\bf{Grace v. Biagiolo}})} \tn 
% Row Count 3 (+ 2)
% Row 34
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{shares must be valued by 'inidependant valuer' ({\bf{O.Neil v. Phillips}})} \tn 
% Row Count 5 (+ 2)
% Row 35
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{valuation will normally be done on 'pro rata' basis (no discount to share value applied)} \tn 
% Row Count 7 (+ 2)
% Row 36
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} {\emph{BUT}}, where person being bought-out worked to company's detriment/ no improvements even if no loss, valuation will be discounted} \tn 
% Row Count 10 (+ 3)
% Row 37
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} {\emph{OR}}, where share was acquired by petitioner through investment ({\bf{Re Blue Index}})} \tn 
% Row Count 13 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{section 122(1)(g) (insolvency Act, 1986)}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- winding up of company on just \& equitable grounds} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-asterisk\}\} {\bf{{\emph{measure of last resort}}}}} \tn 
% Row Count 3 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-asterisk\}\} {\bf{{\emph{petitioner to exhaust alternate remedies first}}}}} \tn 
% Row Count 5 (+ 2)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-asterisk\}\} {\bf{{\emph{only issued where depth of disagreement is severe}}}}} \tn 
% Row Count 7 (+ 2)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- based on partenership laws (Courts have power to dissolve partnership \{\{fa-arrow-right\}\} also have power to order 'winding up'} \tn 
% Row Count 10 (+ 3)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- where SH can show tangible interest in winding-up, can file {\bf{{\emph{u/s.112(1)(g)}}}}} \tn 
% Row Count 12 (+ 2)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- examples include:} \tn 
% Row Count 13 (+ 1)
% Row 7
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. failure of company's foundation} \tn 
% Row Count 14 (+ 1)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} company's objects become impossible or illegal ({\bf{Re German Dates Coffee}})} \tn 
% Row Count 16 (+ 2)
% Row 9
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. deadlock} \tn 
% Row Count 17 (+ 1)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} relation b/w parties breaks down w/o any chance of reconciliation} \tn 
% Row Count 19 (+ 2)
% Row 11
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. lack of probity ({\bf{quasi-partnership}})} \tn 
% Row Count 21 (+ 2)
% Row 12
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} lack of confidence in management's competence in {\bf{quasi partnership}} ({\bf{Lock v. John Blackwood}})} \tn 
% Row Count 24 (+ 3)
% Row 13
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. exclusion for management ({\bf{*quasi partnership}})} \tn 
% Row Count 26 (+ 2)
% Row 14
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} since such operate company through partnership ({\bf{Ebrahimi v. Westbourne Galleries}})} \tn 
% Row Count 29 (+ 3)
% Row 15
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{\{\{counter\}\}. fraud} \tn 
% Row Count 30 (+ 1)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{section 122(1)(g) (insolvency Act, 1986) (cont)}}  \tn
% Row 16
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{\{\{fa-caret-right\}\} where company was founded to perpetuate fraud  + winding up is only solution for SH to recover investment (Re Thomas Edward Brinsmead**)} \tn 
% Row Count 4 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}