The company could just cancel / not pay the debts, and Scott / Currah would have to go to court and prove the debt was legitimate. He would have to prove the debt was incurred legally and have the supporting documents like board approval, signed contracts. He would have to prove that arms lengths transaction were used to prevent insider dealings etc.
He doesn't control near 50% of the company. He has under 32m shares himself.
Scott can be voted out by the shareholders. The company can issue a proxy vote to all shareholders, if it passes he's out. Again as far as the debt, the burden of proof is on him. He has to come up with legitimate paperwork, and proof that something positive did happen, and was in the best interest of shareholders. Also that it was approved by the bod at the time.
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