Podcast Location:
Download it here [file size: 31.3 MB]
Part of:
Corporate Litigation Bundle - CPD Training Bundle
Categories:
Company Law
CPD Points:
Up to 1 point. details »

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Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

Part 1 of this mini-series aims to set out the source of a member’s rights vis a vis the company and the other shareholders – whether from statute, the company’s constitution, contractual provision or arising informally. This is then followed by a discussion of the main mechanisms by which these rights might be protected, how a minority holding might be eliminated and a summary of the various options for how this might be achieved (explored in more detail in Part 2). Part 1 of this mini-series concludes by starting to explore the various mechanisms by which a minority holding might be eliminated using the statutory drag procedure and the various issues that might arise in so doing.

Outcomes:
After completing the course you will:
  • Understand the principle sources of shareholder rights;
  • Understand the means by which minority shareholder rights might be protected and enforced;
  • Understand the key differences between unfair prejudice petitions, derivative claims and personal actions;
  • Understand the main drivers for eliminating minority shareholders and be aware of the principle means by which this can be achieved;
  • Understand the statutory ‘drag-along’ provisions that enable the majority to overrule the minority and how they work in practice;
  • Understand the respective advantages and disadvantages of this method of managing minority shareholders.
Level:
Specialist Difficulty: 5 of 5
Classification:
Legal Principles
Panel Discussion
Practical Guide
Sources and References:
  • Companies Act 2006 s 260, 994,;
  • Gambotto v WCP Ltd (1995) 182 CLR 432;
  • Re Bugle Press Ltd [1961] Ch 270 90.
Tags:

In this two-part CPDcast mini-series, barristers from Erskine Chambers discuss minority shareholders; their rights, how they can be managed and even eliminated if they become a source of opposition against the majority holding.

Podcast added: 21/09/11

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