RIGHTS OF MINORITY MEMBERS IN A CLOSE CORPORATION

The Shepstone & Wylie Litigation team was recently involved in an application whereby an executor provided the sole heir of the estate of a majority member, holding a 55% membership interest in a Close Corporation, exclusive control over the management of the business to the exclusion of the three minority members, who held the remaining 45% membership interests shared equally among them, and in the absence of obtaining the consent of the minority members.


09 Jun 2025
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