Salty, take a look at 1. Sections 232 and 233 of the...

Salty, take a look at
1. Sections 232 and 233 of the Corporations Act 2001

Section 233 of the Act empowers the Court to make any order that it considers appropriate in relation to a company in circumstances where the requirements of section 232 are met.

2. http://www.holdingredlich.com/dispu...-winding-up-a-solvent-company-an-extreme-step

The court can take appropriate action including winding up. And winding up is NOT considered extreme measure even though according to a legal precedent even though some lawyers opine that court is unlikely to exercise such discretion.

Examples of oppressive conduct  (Source: http://www.craddock.com.au/Document/Shareholder remedies -e2-80-93 minority oppression rules.aspx)
Oppressive conduct can be perpetrated by directors, majority shareholders, substantial shareholders or the company itself. A few examples of conduct that could be considered oppressive include:

• Misuse of company funds
• Improper share issue
• Payment of excessive remuneration to directors
• Unfair restriction of dividends
• Improper diversion of business
• Exclusionary or oppressive conduct at meetings
• Denial of access to information