Nobody downloaded yet

Company law - gambotto pinciples - Essay Example

Comments (0) Cite this document
Summary
The United States government passes a law making it illegal for American companies to purchase chemicals from a company that has French shareholders, and that action precipitates the company, AgChem pty Ltd, to expropriate minority shareholders shares (100 French shareholders) in order to do business with the U.S…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.9% of users find it useful
Company law - gambotto pinciples
Read TextPreview

Extract of sample
"Company law - gambotto pinciples"

Download file to see previous pages In regards to this case, Michael Yew Seong Chin in his article Being in the Minority: The CompulsoryAcquisition of Shares writes:
century of company law they were virtually defenseless... In 1995, the High Court of Australia delivered a corporate law decision that led to a maelstrom of publicity and controversy. This was the Gambotto v WCP Ltd which significantly altered common law governing amendments to a company's articles of association. Gambotto ushered in a
In the original case trial Judge Mclelland J, injuncted the expropriation on the basis that majority shareholders were unjustly oppressing the minority shareholders. That decision was reversed by the Court of Appeal. Here the court noted that the expropriated shareholders received fair compensation for their shares. Using a contraction approach, Priestly J pointed to the fact that the shareholders on becoming members, agreed to become bound by duly passed resolutions, and Meagher JA pointed out that there were enormous tax advantages for the corporation and compensation was fair (Whincop 11). Unhappy with the Priestly/Meagher decision, Gambotto went back to the Court of Appeal and a final decision was reached by Mchugh J:
Mchugh determined that the business objective was proper since it ena ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Company law - gambotto pinciples Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Company law - gambotto pinciples Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/miscellaneous/1500702-company-law-gambotto-pinciples
(Company Law - Gambotto Pinciples Essay Example | Topics and Well Written Essays - 500 Words)
Company Law - Gambotto Pinciples Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/miscellaneous/1500702-company-law-gambotto-pinciples.
“Company Law - Gambotto Pinciples Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1500702-company-law-gambotto-pinciples.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Company Law
...? Company law has been an interesting matter of study since decades. In the company law a variety of difference exists between the liability of the directors or the employees and thus they are convicted based on certain situation. The paper studies two different cases and helps to analyze the difference between the judgments provided based on the variability of the situation. It also underlines the fact that the courts held matter of fraud in a serious manner. Williams Vs. Natural Life Health Foods Ltd The case of William vs. Natural Life Health foods limited is an important element of study in the company law and the contract...
6 Pages(1500 words)Essay
Company law
...? Topic (Company Law) A company acquires its legal personality after registration under the companies Act. Through incorporation, a company becomes a legal entity separate and distinct from its members who are the shareholders. Registration of a company involves delivery of memorandum of association, article of association, declaration by promoters of their intention of being formed into a company and list of directors to the registrar of companies as entailed in the companies Act. The company registration constitutes it “a body corporate.” It becomes a “legal person” or...
12 Pages(3000 words)Essay
Company law
...? Company Law No: Company Law Question No Advise Leaping Lizard Coffee Emporium Pty Ltd on whether the company will have to honor the contract for $25,000 that has not been approved and signed by the managing director. Corporations Act 2001 The Corporations Act 2001 in fact an act of Commonwealth of Australia that deals with the business entities of Australia from federating level to inter state level. It mainly focuses on companies besides other entities like partnerships / managed investment schemes1. The Corporations Act is an important legislation passed by the legislators that governs the companies in Australia. It...
8 Pages(2000 words)Essay
Company Law
...?The factual scenario raises various issues in company law relating to the legality of proposed transactions and directors duties. With regard to theproposed transactions and dissatisfaction of Ergan, Arif and Moshe as minority shareholders in the actions of Pedro and Morgan; this initially raises issues of breach of directors’ duties under the Companies Act 2006. Section 171 of the Companies Act 2006 (CA) provides that “a director of a company must- a) act in accordance with the company’s constitution, and b) only exercise powers for the purposes for which they are conferred” (CA). Section 175 of the CA further imposes a positive...
3 Pages(750 words)Essay
COMPANY LAW
...Court of Western Australia held that s440C of the Corporations Act protects receivers from conversion claims by the owner of goods subject to retention of title where the company is under administration at the time. What this indicates is that if Black Books has been placed under the receivership owing to the actions of the other two creditors—Supplier and Pressing—it is impossible for Black Books to refuse 8 ceding the ownership of the land to Lender. This is completely against the law. However, if there is a clause in the debenture or contractual agreement which claims that Black Books could offset its debt to Lender through alternative payment and not ceding the landed property, then Lender could ask...
10 Pages(2500 words)Essay
Company Law
...?COMPANY LAW Business law has a great bearing in the success of a business. These laws are mechanisms that have been put in place tooversee a conducive business environment. Basics fundamental business laws that apply in a business set up include, contract law, property rights, land rights, land titling system, intellectual property rights, company law, collateral law, and insolvency law (Cheesman, 2009). Note however, that the arbitration system and enforcement capacities also have a role to play as far as business law is concerned. Under this sphere are the commercial courts and the specialized economic courts. They come in when transactions between parties are not honored. Further, company law largely interprets business law... to the...
4 Pages(1000 words)Essay
Pinciples of Assesment
...of principles It has been assumed that there exists a possibility of drafting plans that would completely reliable and would eliminate alternative explanation for results. This principle is a mere hypothesis which on test might not hold to be true. External influences always exist in the evaluation and research has proved that complete reliability and objectivity is impossible to achieve. To be able to design an evaluation system that is fair, equitable and unbiased is again an assumption, when it comes to practical implications. In the real life scenarios to be able to avoid peer pressure to reasonably evaluate all of your subordinates is close to impossible. In a survey conducted in a multinational company's Human...
6 Pages(1500 words)Essay
Company Law - English law
...(a) It was established in Salomon v A Salomon & Co [1897 that 'The company is at law a different person altogether from the subscribers. Nor aresubscribers as members liable, in any shape or form, except to the extent and in the manner provided by the [Companies] Act.'2 It is a general principle of English law that it is not possible in the absence of agency, a trust relationship or wrongful trading to hold one person liable for the debts of another.3 However, like most common law principles and judicial interpretations it is a rebuttable presumption which must give way to a statement to the contrary 'in clear and unequivocal language'4 by Parliament....
10 Pages(2500 words)Case Study
Company Law, Business Law
...May 23, 2006 Academia Research Topic: Exam questions for Business Law (Company Law Adam owns 11% of the shares in a medium-sized company, andthat company owns a chain of fast food outlets around Wales. Apparently, the board of directors has decided to implement two recent special resolutions to alter the articles of association. Additionally, Adam is uncomfortable with the decision of the board of directors because the board of directors no longer needs to obtain the approval of the shareholders for certain high-value transactions. Mostly, the majority rule usually prevails when voting over certain issues pertaining to the company;...
3 Pages(750 words)Essay
Business Law (company law)
...liability company business structure has generally less precedent in terms of case laws. This is due to the fact that it is a relatively newer structure. Form of Limited Liability Company I would advise them to form a partnership form of limited liability Company for the reason that there are three members involved. Thereafter, is would be advisable for them to file Form 8832 which would get the elected as a corporation. Naming of the limited liability company They could definitely retain their current business name if they so desire provided certain rules are observed. The rules that govern the naming of a limited liability company...
8 Pages(2000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Company law - gambotto pinciples for FREE!
Contact Us