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Companies Act

Answer the following case study, making reference to relevant case law and the Companies Act where appropriate.

A few years ago, Dave, Dallon & Sandy incorporated ‘DDS Printing Services Limited’ a private company involved in suppling customized graphic designs and prints. The company has opened a branch in every parish. The company was incorporated with 2,500 shares, with Dave and Sandy holding 1,000 ordinary shares each and Dallon holding 500 non-cumulative preference shares. Both Dave and Sandy are directors of the company and Dallon is the company secretary. The company employed managers, sales clerks, and graphic designers for each branch.
Prior to incorporation, Dave purchased three (3) computers at a cost of $100,000 each which he sold to the company after incorporation for $250,000 each. Dave did not inform the others that he purchased the computers two weeks before the company was incorporated. Sandy discovered the original cost of the computers and told Dallon. They intend to sue Dave.
Dallon is considering selling his shares to his Aunt Mia. He is also insisting that he should receive payment of arrears of dividend for the last 5 years and that he should be invited to company meetings.
Dave recently discovered that Danielle, daughter of a branch manager, has been soliciting the company’s customers using their customer listing contrary to company policy. Danielle and her siblings, Dario and Esther, are planning to register a new company with the name ‘Dee, Dee & Es. Printing Services Limited’.

Advise DDS Printing Services Limited on all the legal issues arising from the case.

Solution:

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