ABC Data Pty Limited (the “company”) carries on business as a data service provider. There are four shareholders in the company who hold the following number of shares:
Ian has six ordinary shares. Grace has three ordinary shares. Robert and Julian have one ordinary share each.
At the time that each member acquired shares in the company, it was understood that they would each be equally involved in the management of the company. Ian, Grace, Robert and Julian are also the company’s only directors.
Unfortunately from the time the company commenced, Ian began conducting the business of the company as if it were his own. Ian ignores the requests made by the other shareholder/directors and refuses to conduct meetings when requested. When meetings are eventually held, Ian refuses to consider any proposed resolution by the other directors/shareholders. In addition, Ian pays himself a very high remuneration for consulting work which he says he does for the company. The other director/shareholders regard this remuneration as excessive and not commensurate with the work he does or the skill that he possesses.
In addition, Ian refuses to approve the payment of dividends despite company profits being available to pay such dividends. This has had the effect that neither Grace, Robert nor Julian have received any profit distribution from the company.
Advise Grace, Robert and Julian whether they can bring any personal action against Ian and, if so, what orders would you advise them to seek.

We don't do homework.

If we did that for you, what would you learn? Nothing. And later, if you were to get a job on the basis of this course in your resume, your employer would probably be disappointed that you had cheated on the course, and effect cheated your employer.

So, you see, answering this question for you would be a situation on which no one would benefit and everyone would loose.