How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Leon Your Own Question

Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 43498
Experience:  24 years experience. Admitted in New South Wales and the UK.
12124641
Type Your Australia Law Question Here...
Leon is online now

Is the the threat not to sign a doct.which will lead to a Company

Resolved Question:

Is the the threat not to sign a doct.which will lead to a Company suffering financial loss,in order for the person making the threat to obtain financial gain,blackmail or extortion.
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good EveningMy name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.I do not understand your question. Can you please give me more detail about the threat and who it is from?The person making the threat what do they gain if you do what they want you to do?
Customer: replied 1 year ago.
Hi Leon,I am a shareholder that owns some potentially valuable I.P.in the music industry.Our shareholders agreement provides a clause where any changes to to the agreement requires a 100 percent vote from the shareholders.We have a potential investor who wants to put in a large sum of money.The Company requires funds urgently to stave off potential liquidation.The investor requires some changes to the shareholders agreement.A Deed of Variation was drawn up and sent to all shareholders for signature.97percent signed,3 percent refused.Of the 3percent 1 is owned by a shareholder 2 by another.These 2 shareholders originally owned 10 percent each and were directors of the Company.They were dismissed for various reasons and 17 percent of their shares were bought back for a fair valuation,leaving them with 3 percent.After they were paid out they sent a letter demanding further payment or their shares back,alleging that our valuation of the Company was misleading.They threatened Supreme Court action.When the Deed of Variation was sent to them they saw their opportunity to force settlement by refusing to sign thereby placing the Company in danger of liquidation.Their claim is highly disputed and should settled by Civil litigation.I believe their actions have breached S87 of the Crimes Act for Blackmail.I would appreciate your opinion.Regards Martin( I am a retired lawyer).
Expert:  Leon replied 1 year ago.
Good MorningThey are shareholders and if they do not act properly and in the best interests of the company they can be held personally liable. You cannot force them to sign but if they are refusing unless they get paid more then this is extortion but the issue is whether the police will see this as a criminal matter or civil matter. I would be suggesting suing them in the Supreme Court for the breach and seeking an order that the court sign on their behalf. The 2 issues are not connected and their refusal to sign will be seen as a breach of their duty. They are unreasonably withholding consent to get a benefit and this will be enough for them court to overrule them. I am not sure what your constitution says about this but you can seek costs from them for the action. You should see a solicitor that practices and have them send a letter setting out there role and liability and if they refuse to do the right thing for the company it will sue and seek costs against them. Look at the Shareholders agreement and see if there is a clause about acting in a manner that is not in the companines best interests. This can be used against them. I hope this makes sense and is of assistance. If there is nothing further thank you for using my services. If I have missed anything, or you have any further questions please let me know If there is anything else in the future please do not hesitate to ask. Please do not forget to leave positive feedback. RegardsLeon
Customer: replied 1 year ago.
Thanks,I will take this up with our solicitors and the police.
Expert:  Leon replied 1 year ago.
Good MorningYou are very welcome and thank you for using my services. If I have missed anything, or you have any further questions please let me know If there is anything else in the future please do not hesitate to ask. Please do not forget to leave positive feedback. RegardsLeon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 43498
Experience: 24 years experience. Admitted in New South Wales and the UK.
Leon and other Australia Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H.
< Previous | Next >
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H.
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • José M.

    José M.

    Attorney

    Satisfied Customers:

    21
    Spanish Attorney
< Previous | Next >
  • http://ww2.justanswer.com/uploads/JO/JoseMagadan/2013-6-27_16279_IMG6290copia.64x64.JPG José M.'s Avatar

    José M.

    Attorney

    Satisfied Customers:

    21
    Spanish Attorney
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Attorney

    Satisfied Customers:

    6
    Private practice with experience in common law, civil law, international family law, and international contracts.
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    270
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
  • http://ww2.justanswer.com/uploads/BL/blueflowers1063/2013-10-10_35834_KimHolidays1.64x64.jpg Kim D.'s Avatar

    Kim D.

    Consultant

    Satisfied Customers:

    27
    Researcher 20+yrs in small and large institutions
  • http://ww2.justanswer.com/uploads/NU/nursescare4u/2013-3-31_03429_JApic.64x64.jpg findinganswers's Avatar

    findinganswers

    Internet Researcher

    Satisfied Customers:

    22
    Internet Researcher, Nurse for over 17 years, and can find answers for you!