Businesses in Australia face an increasingly complex economic landscape characterised by high interest rates, escalating enforcement action from the Australian Taxation Office (ATO), and market volatility. These factors, among others, have contributed to a 35% increase in formal insolvency appointments during the period July 2023 to November 2023.

 In the last 12 months, the Australian economy has seen a surge of company liquidations.  Insolvencies in Australia are increasing and predicted to reach post-GFC levels. 

The ‘oppression remedy’ is the most effective minority shareholder remedy to redress abuse of power by a majority shareholder.  Although the Corporations Act 2001 provides a range of remedies to be catered to the circumstances of the case, the Courts will most commonly make an order that the oppressor party purchase the shares of the oppressed party at a fair value