Zuri is a director of BinaHarta Sdn Bhd who holds 10% of the company's shares. The other
Question:
Zuri is a director of BinaHarta Sdn Bhd who holds 10% of the company's shares. The other 90% of the shares is held in equal proportions by two other directors namely Zek and Zaidi. At a company meeting, the following resolutions were passed despite vehement objections by Zuri:
i) A resolution to divert a contract which was initially awarded to BinaHarta Sdn Bhd to its subsidiary company. The members of this subsidiary company are Zek and Zaidi.
ii) A resolution to discontinue legal proceedings against Mutiara Enterprise for breach of agreement with BinaHarta Sdn Bhd. iii) A resolution to ratify the negligent act of Zaidi in selling a piece of land belonging to BinaHarta Sdn Bhd below the market price.
Advise Zuri whether he may institute an action personally against the directors for the breach of their duties or alternatively institute an action in the name of the company against them.
Please Elaborate, Discuss, Advise, Correlate. It's company law. Please write it more. I will give the like.
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073212227
8th Edition
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell