Advise peter about any rights that he may have

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Reference no: EM133314257

Question Wellworn Pty Ltd ('Wellworn') is engaged in the business of the acquisition and retail sale of floor coverings. The directors and shareholders of the company are Peter, Norman and Norman's son, George; and their respective shareholdings' percentage are 10% (Peter), 70% (Norman) and 20% (George). Norman has been appointed the company's managing director. The company makes good profits, all of which are distributed as directors' remuneration.

Under Wellworn's constitution, the company has express power in a general meeting to remove a director by ordinary resolution. Peter works mainly on the sales side of the business in Melbourne, whilst Norman spends much of his time acquiring carpets in India. Disputes arise between Peter and Norman. Peter alleges that Norman is engaging in improper practices in buying and selling carpets from which he is deriving personal profits. Norman denies these allegations. Subsequently, Norman and George exercise their majority voting power at a general meeting of the company to remove Peter from the board of directors.

Advise Peter about any rights that he may have.

Reference no: EM133314257

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