What happens if a shareholder defaults in respect of shareholder obligations or mistreats a property?
In the that event that corrective steps are not actioned by a shareholder within prescribed times or in the case of obvious mistreatment of a property by a shareholder or their representative(s) who may occupy on their behalf, the Directors of each property company will have the right to withdraw a share(s) from a shareholder and compulsorily acquire such share(s) at a price based on the tangible assets of the property company less any costs required to correct or repair the actions of a shareholder or their representative(s).
