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Advise him on what kinds of actions he can initiate

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Question - Xavier is a minority shareholder of Yew Industries Pty Ltd. He comes to you and alleges that the 7 directors of the company, who are all relatives of the company founder (now deceased), have recently sold a building owned by the company and used the money from the sale to buy several luxury cars in their own personal names. He also alleges that at a recent board meeting, the directors have also passed a resolution ratifying these actions. Xavier now wants to initiate legal action against these 7 company directors. Advise him on what kinds of actions he can initiate and describe these actions in detail.

Reference no: EM133071756

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