M/S Unity Hospital of Jamaica has two groups of Directors. A dispute arose between the two groups
Question:
M/S Unity Hospital of Jamaica has two groups of Directors. A dispute arose between the two groups out of which one group controlled the majority of shares. A very serious situation arose in the administration of the company's affairs when the minority group ousted the lawful Board of Directors from the possession and control of the management of the company's factory and workshop. The minority group held books of account and statutory records and consequently the annual accounts could not be prepared for two years. The majority group applied to the Companies Office of Jamaica under the Companies Act.
You are required to advice Companies Office of Jamaica with reference to the provisions of the said Act, the following issues:
(i) Can majority of shareholders apply to the Companies Office of Jamaica for relief against the oppression by minority Shareholders?
(ii) Whether Companies Office of Jamaica can grant relief in such circumstances.
Business Law The Ethical Global and E-Commerce Environment
ISBN: 978-0071317658
15th edition
Authors: Jane Mallor, James Barnes, Thomas Bowers, Arlen Langvardt