Malaysia Business Law

Tutorial Case Study 10

Answer with 1000-1200 words.

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It is trite that any optimal company law rule set will seek to attain several objectives. These would include permitting the formation and registration of companies with ease; protection of minority to encourage the formation of capital; articulating meaningful fiduciary duties of care, loyalty and act lawfully to protect the company and all its stakeholders; expending public funds for public enforcement of certain duties; as well as the provision of meaningful members remedies which include recognizing the modern shareholders derivative action in some form

Despite the wide interpretation given by judges to s 346 and 465 of the Company Act 2016, it is unlikely to be applied to a complaint about the mismanagement of a company. In such a case, the rule in Foss v Harbottle still represents a substantial, unjustifiable barrier to litigation by minority shareholders. Critically analyze with cases and examine the merits and desirability of actions taken by those who control or manage the affairs of the company which otherwise remains constrained by Foss v Harbottle (1843) 2 Hare 461; 67 ER 189.

Your answer must include the latest cases including Ranjeet Singh Sidhu & Anor v Zavarco plc & Ors [2015] AMEJ 1720; [2016] 2 CLJ 975.