Actually design din 1955 act

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Reference no: EM133799929

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This case vrij and boyle, was actually design din 1955 act. But the 1955 act had already be changed to be algin with the 1993 act. So that was soon afterwards. In terms of this, we got classic situations. We got two people going into business together. This is slightly unusual because very often when u go into business together, u have equal shareholders. And the reult of that is deadlock if u have a dispute. It becomes very difficult to do anything. In this situation, boyle owned 55%. So they are a bare majority. Vrij had 45% in this company like lite plastic ltd. Absolutely typical situation for whatever reason, boyle decided to set up another company and divert the opportunity to lite plastic into polymer techniques in manufacturing ltd. a classic diversion of a opportunity that belongs to the company. Vrij has what is harming the company, is the fundamental breach of 131 of the common law duties owed by the directors to the company and not to divert the business. Obviously no action was going to take place bec it got majority control by boyle. So boyle can veat? Out any action. This was taken to court. Vrij pursued a derivative action.

Reference no: EM133799929

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