New EU Data Protection Laws – GDPR
Since 25 May 2018, Australian businesses which distribute goods and services to persons in the EU are now bound by strict data protection laws which are more onerous than Australian Privacy Principles. Under the General Data Protection Regulation (GDPR), personal data can only be processed if there is consent by the individual, or if there […]
Case Note: Patterson v Humfrey [2014] WASC 446
In this interesting case an oppressor shareholder was ordered to buy out the oppressed shareholder. Equal shareholders were deadlocked. One Shareholder, the plaintiff, asked the court that the other be required to sell its interest or buy the plaintiff’s interest. The defendant had the daily management of the company. The court found oppression and ordered […]
Monstered by Wayward Director – Oppressive Conduct sees Deadlocking Director forced to Sell at Fair Value
Munstermann v Rayward; Rayward v Munstermann [2017] NSWSC 133 In this case, the Supreme Court of NSW exercised its broad powers to make any orders it considers appropriate where a shareholder suffers oppressive and unfairly prejudicial conduct. The Court ordered that Mr Rayward, a director that caused a deadlock, should sell his shares to the […]
Resolving Shareholder Deadlocks: oppressive and unfairly prejudicial conduct
Deadlocks commonly arise in companies with equal shareholders who are also directors. An aggrieved shareholder can ask the Supreme Court to resolve the deadlock if the shareholder suffers oppressive and unfairly prejudicial conduct. When can the Court Intervene? The Court may intervene if: The conduct of a company’s affairs; or An actual or proposed act […]