Provisional measures may not take away the shareholders’ voting and related rights, rules the Supreme Court, and lower courts follow
May | 2013
In January 2013 the Supreme Court ruled that provisional measures must not take away the shareholders’ voting and related rights. The ruling specifically says that the shareholders’ voting rights may not be restricted or taken away, provisional measures may not impose a restriction to convoke and hold shareholders’ meetings, notify changes in the Management to the Commercial Register and hold an office in the Management or Supervisory Board.
It has taken us another year in courts to achieve the ruling of the Supreme Court. We are delighted to note that our clients no longer suffer from any such inconsistent provisional measures in numerous cases that we handle for various international and local entities.