Assessment: Legal Analysis
Question 1
You have been appointed as an adviser in the insolvency division of Wind Up Accountants.
Your manager has asked you to prepare a presentation for an upcoming training course for new staff members.
As part of your presentation you are required to read a news article and provide a brief on the legal issues that have befallen celebrity gardener Jamie Durie.
Required
Review the above article and discuss the corporate law issues that arise from the case study.
Your paper must include an explanation of terms used, for example: voidable transactions, insolvent trading, uncommercial, garnishee notice etc.
Refer to relevant legislation and/or case law in your analysis.
Question 2
Model Haircuts Pty Ltd. is a very successful hairdressing business. The company was formed with five members in 2015. The five members have an equal shareholding of 20% each.
There are two company directors Elle and Belle. The company has a constitution, which provides for the retirement of directors after 3 years. Any member may stand for election as a director. Directors may be appointed or reappointed at the annual general meeting.
Billy is a member and wants to nominate for election at the next annual general meeting. Although he is an excellent hairdresser Billy has no business or finance experience.
The two incumbent directors Elle and Belle issue additional shares to themselves prior to the general meeting. The effect of the issue is to alter the voting power and make it impossible for Billy to be elected.
REQUIRED:
Advise Billy about his legal rights. Refer to relevant statute law and case law to support your response.
Attachment:- Assessment Test.rar