Discuss remedies that are available to minority protection – Custom Essay
Introduction: Companies function on the foundation of the majority rule, therefore the challenges that minority shareholders likely to come across are not hard to think of (Koh, 2013).There are different types of remedies that are available for minority shareholders against oppressive, unfairly discriminative conduct by the majority shareholder. There are different types of repressive prejudicial and discriminatory conducts, such as rule out minority shareholders from management, hold back dividends, unnecessary salaries of majority. (John H and Boulle, 2011) A minor shareholder can claim three types of claim (a) the unfair prejudice petition (b) the petition for the just and equitable winding up and (c) the derivative claims.( (Lexisnexis.com, n.d.) The Companies Act 2006 provides some remedy or protection to the minor shareholder however having a shareholder agreement always a possibility to lessen the conflicts. Analysis of the remedies of shareholder will show that remedy can be for the company through the filing of an application and or petition for derivative claim or for the shareholders personally under the application for unfair prejudicial claim.
Minority shareholders are those who does not exercise control over a company. Minority shareholders own less than half of shares in the company. They also do not hold any position in the board of director.
Discuss the remedies that are available to the minority protection,
Words Limit: 1500-2000
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