Rejection of registration of change of administrators in company with pledged shares
16 Jul 202682 views
Who is affected:
Capital companies with pledged shares, pledgee creditors and corporate administrators
Summary
The DGRSJFP resolves a claim regarding the refusal to register the removal and appointment of administrators in an SL, where the pledgee creditor attempted to exercise voting rights. The case revolves around whether the bylaws or the pledge agreement prevail over who votes.
Detailed analysis
PRO
The Directorate General for Legal Security and Public Faith analyzes whether a pledgee creditor can exercise voting rights in a general meeting to remove and appoint administrators, when the bylaws assign that right to the owner of the shares. The registrar rejected the registration for two defects: the bylaws assigned…
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