Shareholder and Director disputes are not uncommon. Depending on the arrangement of the company, whether there is a shareholders’ agreement in place, or whether or not the dissenting shareholder(s) has a majority shareholding, will determine the route necessary to resolve the issues. A derivative action or claim for unfair prejudice may need to be taken depending on the facts.
Directors have a number of statutory and fiduciary duties to their company. Some of these duties include acting within their powers, promoting the success of the company, avoiding conflicts of interest and exercising reasonable care, skill and diligence