how would we incorporate s174 ca 2006 into this?

selena's family- is there any rules for family who is shareholders or any principles?

chandlers resignation- is there any principles or rules for those who have resignated?

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Thera Ltd, a fashion design company, has three directors, Selena, Melina and Dora. Anna is a shareholder in Thera Ltd and owns 15% of the company's shares. Selena is the majority shareholder who owns 75% of the shares and the remainder of the shares are owned by members of Selena's family. Melina used to be a solicitor in a big law firm in Birmingham. Last year, Selena sold a warehouse to Thera Ltd for 1.5m (one and a half million pounds). The transaction had shareholder approval at the time, although Anna voted against it. It now appears that the warehouse is only actually worth 500,000 (five hundred thousand pounds). Melina, who likes to keep up with the latest fashion trends, uses her connections made on the board of Thera Ltd to obtain tickets to a sold out fashion show. Because she spends all her energy on the show, she fails to attend a meeting with one of Thera Ltd's key clients and, as a consequence, the company loses a potentially very lucrative contract. Chandler is a former director of Thera Ltd. Following his resignation from the board, he receives an expensive contemporary artwork from Mona Ltd, a company with whom Thera Ltd does a large amount of business. Dora is concerned about compliance by the directors of Thera Ltd with their duties in the Companies Act 2006 and comes to you for advice. Thera Ltd, a fashion design company, has three directors, Selena, Melina and Dora. Anna is a shareholder in Thera Ltd and owns 15% of the company's shares. Selena is the majority shareholder who owns 75% of the shares and the remainder of the shares are owned by members of Selena's family. Melina used to be a solicitor in a big law firm in Birmingham. Last year, Selena sold a warehouse to Thera Ltd for 1.5m (one and a half million pounds). The transaction had shareholder approval at the time, although Anna voted against it. It now appears that the warehouse is only actually worth 500,000 (five hundred thousand pounds). Melina, who likes to keep up with the latest fashion trends, uses her connections made on the board of Thera Ltd to obtain tickets to a sold out fashion show. Because she spends all her energy on the show, she fails to attend a meeting with one of Thera Ltd's key clients and, as a consequence, the company loses a potentially very lucrative contract. Chandler is a former director of Thera Ltd. Following his resignation from the board, he receives an expensive contemporary artwork from Mona Ltd, a company with whom Thera Ltd does a large amount of business. Dora is concerned about compliance by the directors of Thera Ltd with their duties in the Companies Act 2006 and comes to you for advice.

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Based on the information provided here are the key issues and concerns for Thera Ltd Conflict of Interest Selenas sale of the warehouse to Thera Ltd a... View the full answer