New

Learn smart - Learn online. Upto 80% off on courses for a limited time. View Courses

Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

LAWS19032 Commercial And Corporation Law

tag 0 Download 14 Pages / 3,466 Words tag 07-09-2021

Question:

Read Australian Securities and Investment Commission (ASIC) v Cassimatis (No. 8) [2016] FCA 1023 (click on the link below)http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/cth/FCA/2016/1023.html?stem=0&synonyms=0&query=Cassimatis
Answer the following questions:
1. Describe the legal issues relevant to this case. 
2. Explain the relevant laws relevant to this case. 
3. Discuss the arguments of the parties in this case. 
4. State the decision in this case. 
 
Koala Pty Ltd (Koala) is a company which operates a business selling koala soft toys to the world market. Khaled, Kanye, Keith, and Kylie are all siblings and the only directors of Koala and each owns 25 ordinary shares. When the siblings first started the company, they thought it would be a great idea for them all to be involved in an enterprise where they worked together and had control over their destiny.

Clause 9K of the constitution of Koala provides that Khaled, Kanye, Keith, and Kylie shall be directors of Koala at all times. Late last year Kanye had personal grievances with the rest of the family over the manner in which the company
was being managed. He proposed to be appointed as the managing director but the other directors voted that proposal down at a director’s meeting. His siblings now won’t speak to him and don’t want him to have anything to do with the company.At a recent board meeting, Khaled, Keith, and Kylie passed the following resolution (Kanye voted against the resolution): 
 
An extraordinary general meeting was held in May 2017 where a special resolution was passed removing Clause 9K of the constitution. Thereafter, a second resolution was passed at the meeting removing Kanye as a director.After removing Kanye from the board, Khaled, Keith and Kylie attended a board meeting suspending dividends indefinitely and increasing their directors’ salary.After the May meeting, Keith and Kylie become aware that they could sell Koala
related products such as souvenirs to the world market and make a lot of money. Keith and Kylie registered a new company called Koala2 Pty Ltd (“Koala2”) in which they are the only shareholders and directors. Koala2 buys its products from local sources and sells the products to foreign markets at a massive profit.

a. Solve the issues as to whether Kanye would be successful in an action against the other directors/members in relation to the share issue and/or being removed as a director. 
b. Solve the issue as to whether Khaled and/or Kanye would be successful in an action against the other directors/members in relation to starting a new company without them.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 14 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). Commercial And Corporation Law. Retrieved from https://myassignmenthelp.com/free-samples/laws19032-commercial-and-corporation-law/corporation-act.html.

My Assignment Help (2021) Commercial And Corporation Law [Online]. Available from: https://myassignmenthelp.com/free-samples/laws19032-commercial-and-corporation-law/corporation-act.html
[Accessed 06 July 2022].

My Assignment Help. 'Commercial And Corporation Law' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/laws19032-commercial-and-corporation-law/corporation-act.html> accessed 06 July 2022.

My Assignment Help. Commercial And Corporation Law [Internet]. My Assignment Help. 2021 [cited 06 July 2022]. Available from: https://myassignmenthelp.com/free-samples/laws19032-commercial-and-corporation-law/corporation-act.html.


MyAssignmenthelp.com has appointed best assignment experts who are wizards of words. Our writers know every trick of crafting high quality write-ups within a short period. With years of experiences, we have become one of the most prolific assignment help services in the USA. We deliver custom-made help to students with writing different types of assignments. We guarantee total need-based and timely service, and this is why increasing numbers of students prefer to buy assignment online.

Latest Civil Law Samples

LAW250 Constitutional Law

Download : 0 | Pages : 7
  • Course Code: LAW250
  • University: University Of Tasmania
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: The Commonwealth Of Australia  Defendant Outline Of Argument For The Applicant According to the Countering Terrorist Activities Act (2017) (the CTA) Section 1 the Australian Anti-Terrorism Authority (AATA) will acquire the Pond University Library in form of a investigation and research center into allegations regarding terrorist activities which also includes the basis of material support like treatment of those involved in te...

Read More arrow

LAW251 Contract Law

Download : 0 | Pages : 13
  • Course Code: LAW251
  • University: University Of Tasmania
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: Introduction: It is necessary for the organizations to comply with the Australian Consumer Law, the Fair Trading Act, and Australian Consumer Law for the purpose of reducing the risk related to breaking of law, and also for avoiding the legal conflicts. While complying with these laws, organizations can ensure better relations with consumers and also increase their goodwill as it deals fairly with the consumers and other stakeholders...

Read More arrow Tags: Australia Balga Management maths University of New South Wales 

CPPDSM4003A Appraise Property

Download : 0 | Pages : 10
  • Course Code: CPPDSM4003A
  • University: Tafe NSW
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: Assessment Task 1 Question Right option Description 1 B False 2 D All of the above 3 B 3 properties of similar standard or condition, sold within a 5-kilometre radius in the previous six months. 4 E All of the above 5 E All of the above 6 E All of the above 7 A Yes 8 A ...

Read More arrow Tags: Australia Sydney Management Appraise Property for Listing Purposes University of Sydney MBA 

LAWS10067 Civil Law

Download : 0 | Pages : 8

Answer: (a) Explain whether Hassan, Paul, Sally, Garfunkel and Mary have enforceable claims in contract law. Hassan: In the present case, Hassan saw a very rare record in the shop window of Mary. As Hassan was a rare vinyl collector, and knew that the record was worth much more, he walked into the shop and expressed his desire to buy the vinyl. At the same time, Mary also realize that the price had been mentioned wrongly on the record, she re...

Read More arrow

LW7022 Treatment: Consent And Patients Rights

Download : 0 | Pages : 14
  • Course Code: LW7022
  • University: Northumbria University
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: United Kingdom

Answer: Introduction Consent refers to giving the permission or assenting for something to happen. Under the medical law, valid consent remains a vital element to any treatment, as it not only protects the patients but also protects the ones who provide such a treatment. For the second category, the valid consent acts as a defense in such cases where a claim is made under the criminal charges of batter or assault or against the civil claims o...

Read More arrow
Next

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?