Relevant Legal documents
Section 202 of the Westland Corporation Act
(a) I was working for a company for a ten years, since it started working. It’s
clear that my contribution to the company’s growth is significant. I was
working on a many projects, which brought a worldwide success for a
company. I was a pattern for all employees because my results of hard
working were incredible. Shareholders were satisfied with my achievements
too. I have never been acting in a bad faith…
It goes without saying that The Greenview company was informed about some
land near the golf course, which is available for sale. It is also known that
company was interested, so I was waiting for a decision made by a corporation,
but they didn’t take any action. I didn’t have the rights to buy this adjoining
land like a company’s proxy, purschasing it was in shareholders’ powers. They
knew that this land adjunction would be profitable.
Do you have any evidence, which shows that I was acting unfairly?
1)Theft of a corporate opportunity is when director takes advantage of certain
company’s decision. In this case, there are no evidence that in the discussion
period of buying the land I intentionally tried to convince/persuade
shareholders to not buy the land, because there are no information about my
interests in shareholder’s period of buying the land. It is not possible to prove
that I took the advantage of the corporate opportunity.
2)Moreover, The shareholder didn’t arrange the meeting in which could be
possible to vote for or against buying this land. I didn’t have an influence on
decision, which was made by shareholders and didn’t have an effect on them.
Therefore, I didn’t suspend you from buying the land.
3) Firstly you decided to enter into agreement with me and sold golf course
and adjoining land as a package. By the way we settled on profit division. This
kind of deal brought not only for me but also for you a benefit and you were
satisfied. But now you changed your mind, and you want to gain more money?
Well, its so unfair…
4) It was not privately offered for sale, this sale was public and not only the
shareholders of the Greenview company knew about the opportunity to
purchase the land.
5) I didn’t betrayed the company because i waited company’s decision in this
situation. After few months i realised that shareholders adjourns acquiring the
land and nobody knows how much time this decision about whether to buy or
not to buy the land can be postponed. I was not even guaranteed that
Greenview company will buy this land. Also, when time passed risk that some
third party will buy the land increased. In my point of view this land was good
investment thats why i took the opportunity of buying the land. I don’t see
anything bad in this kind of situation.
My disloyalty to the company can be proven in two ways:
1. If I were intentionally stalled company’s decision in order to personally get
benefits of buying this land
2. If I I were immediately acquired the land without waiting company’s
decision
I didn’t cause any loss to the company due to my arguments which I already
explained. It is a ridiculous accusations because shareholders also got profit
due to cooperation with me when they decided to sell the Golf court. This
means that first of all they didn’t see anything bad in this situation, but after
the selling process was done and they divided profits they started to accuse
me.
From now on I do not trust my past partners at all and I feel denigrated on
the grounds I decide to leave this company. Talking about compensation I
don’t see the reason why I need to pay smth and don’t feel any guilty at all
thats why I will not offer any kind of compensation.
I reject/refuse your suggestion
I decided to terminate my employment
