Part A Read Australian Securities and Investment Commission (ASIC) v Cassimatis (No. 8) [2016] FCA 1023 (click on the link below) Answer the following questions: 1. Describe the legal issues relevant...

Part A
Read Australian Securities and Investment Commission (ASIC) v Cassimatis
(No. 8) [2016] FCA 1023 (click on the link below)
Answer the following questions:
1. Describe the legal issues relevant to this case. (4 marks)
2. Explain the relevant laws relevant to this case. (4 marks)
3. Discuss the arguments of the parties in this case. (8 marks)
4. State the decision in this case. (4 marks)
Part B
Koala Pty Ltd (Koala) is a company which operates a business selling koala soft
toys to the world market. Khaled, Kanye, Keith, and Kylie are all siblings and the
only directors of Koala and each owns 25 ordinary shares. When the siblings
first started the company, they thought it would be a great idea for them all to
be involved in an enterprise where they worked together and had control over
their destiny.
Clause 9K of the constitution of Koala provides that Khaled, Kanye, Keith, and
Kylie shall be directors of Koala at all times. Late last year Kanye had personal
grievances with the rest of the family over the manner in which the company
was being managed. He proposed to be appointed as the managing director but
the other directors voted that proposal down at a director’s meeting. His siblings
now won’t speak to him and don’t want him to have anything to do with the
company.
At a recent board meeting, Khaled, Keith, and Kylie passed the following
resolution (Kanye voted against the resolution):