Consider the scenario in Western Australia:
Me and 2 others want to go into business together based on what we believe will make us profit (etc.).
The decision is to form a company, however, due to financial difficulties of the other 2 individuals, it is decided that I pay for the registration of the new company and they pay me back when they can at a later date.
The company is registered and called "Newco" where I have paid for the whole proceedings. The allocated shares are split equally; i.e. 5 shares for each person to make up a company made up of 15 shares. Documents are signed showing witness of this.
Each individual is a 33% shareholder and also a director in "NewCo".
As time goes on it becomes apparent to me that the other 2 individuals continuously seem to use the company's resources to do things outside of the company's interests (i.e. conflict of interest).
Arguments occur but the steering of the company is officially decided by the majority of the director's decisions; which is always determined by the same voting of the other 2 partners who have a long history working together.
It becomes apparent to me that I am at significant detriment and have been for quite some time from their behaviour and dealings and want to stop doing business with them. I want them out of the company and make myself the sole director and shareholder but they are not willing to give or sell me their shares amicably.
Question: Seeing as they never actually paid me back from the beginning for the company set up do the other 2 actually have a right to their shares? Or are they actually mine because I paid for everything? What can be done to get them out of the company?