What action can nikita bring to her rights as a shareholder

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Reference no: EM133291440

Assignment:

Marlin is the managing director of Infinity Space Pty Ltd which is an Australian space company to develop technologies to launch small satellites into space. The company was founded 10 years ago by his father, Mr Delosa, an ex-NASA scientist. Mr Delosa retired from the business 3 years ago and transferred his shares to his daughter, Nikita, Marlin's sister. Nikita is very concerned about the way the company is being run. The company has not declared any dividends for 2 years. However, Marlin receives an excessively high salary, and the company also pays a salary to his wife, for which she does not provide any service. Nikita also finds out that Marlin pays for holidays and other personal expenses from the company's funds. Nikita is not convinced that dividends will be paid in the future, as promised by Marlin She wants to sell her shares to Marlin, which he refuses. What action can Nikita bring to exercise her rights as a shareholder? Fully explain your answer by referring to relevant case laws and statutory provisions to support your answer.

Reference no: EM133291440

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