|1.||(1) listed public companies;|
|2.||(2) quasi-partnership and joint venture companies; and|
|3.||(3) a residual category of companies.|
Both the susceptibility of shareholders to particular oppressive practices, and the means available to remedy or prevent them vary according to the nature of the company. The nature of minority shareholders' complaints and the companies in which they occur are examined in Chapter 2.
The first avenue of relief examined is self-help, and is covered in Chapters 3-5. This is directed primarily at prevention rather than cure. Depending on the relative negotiating strengths of the parties the minority shareholders may be able to secure the adoption of a structure which minimizes the potential for oppression. The form which such structural changes may take depends upon the type of company. For example, institutional shareholders in listed companies may collectively have sufficient power to secure measures such as the appointment of non- executive directors to the board, whereas, in quasi-partnership and joint venture companies, shareholders may use devices such as shareholders' agreements, weighted voting and class rights to protect their position.
The second avenue of relief discussed is recourse to the courts, and is covered in Chapters 6-10. Rather than the usual chronological approach to analysing the various available remedies, the discussion in Chapters 6-9____________________