Minority Shareholders Which Are Enforceable Against Other Shareholders

Minority Shareholders Which Are Enforceable Against Other Shareholders

Where a wrong is done which infringes upon the personal rights of a shareholder, the shareholder is entitled to a personal right of action to enforce the personal rights conferred under the articles of association, shareholders agreement, statute or common law. Remedies may be sought for the sole benefit of …

Shareholders Rights When A Company Is Experiencing Financial Difficulties

Shareholders Rights When A Company Is Experiencing Financial Difficulties

Under Section 177(1)(f) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, a company may be wound up by the court, upon the application of a minority shareholder, if the court is of opinion that it is just and equitable to do so. Minority shareholders may exercise this right when …

Shareholders Are Able To Bring Actions And Seek Remedies On Behalf Of The Company – Unfair Prejudice

Shareholders Are Able To Bring Actions And Seek Remedies On Behalf Of The Company – Unfair Prejudice

Under Part 14 Division 2 of the Companies Ordinance, unfair prejudice petition is another useful remedy for minority shareholders. This remedy empowers a shareholder of a company to petition to the court, where his interests have been unfairly prejudiced by the act or omission in respect of the company. The …

Shareholders Are Able To Bring Actions And Seek Remedies On Behalf Of The Company – Derivative Actions

Shareholders Are Able To Bring Actions And Seek Remedies On Behalf Of The Company – Derivative Actions

Statutory remedies: Part 14, Division 4 of the Companies Ordinance (Cap 622), provides statutory derivative action as remedy for aggrieved minority shareholders. If any misconduct is committed against a company but the company itself does not institute the proceedings, then a shareholder of the company may bring proceedings on behalf …

Shareholders Annual General Meeting

Shareholders Annual General Meeting

All limited companies need to conduct an Annual General Meeting (AGM) in each financial year, subjected to some limited exceptions. For private companies, an AGM shall be conducted within 9 months after the end of accounting reference period. for public companies, it’s 6 months. Before conducting any General Meeting or …