Catchwords:
CORPORATIONS — Members’ rights and remedies — Oppression — Winding up on the just and equitable ground — Failure to keep adequate books and records — Where conflicting sets of accounts needed to be reconstructed to ascertain companies’ financial positions — Where nature of significant account entries and transactions still cannot be explained — Where companies’ affairs not conducted for the benefit of the members as a whole.
CORPORATIONS — Directors and officers — Directors’ duties — Duty to act in good faith in the best interests of company and for proper purpose — Duty not to use position as director or officer improperly — Directors’ involvement in transactions between a company in which they are a director and a company in which they have financial interests in.
EQUITY — Fiduciary duties — Conflict of interest and duty — Informed consent — Directors’ involvement in transactions between a company in which they are a director and a company in which they have financial interests in.
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