The protection of minority shareholders against majority abuse has become a central issue in Spanish corporate law. It is increasingly common for minority shareholders to challenge corporate resolutions as a defensive mechanism under the framework of Article 204.1 of the Spanish Companies Act (LSC).
Our associate in the Corporate Department, Marta Ibarrola Aycart, contributes to an article in El Confidencial where she analyzes this provision, which establishes that resolutions may be challenged if they are contrary to the law, conflict with the bylaws or the rules of the shareholders’ meeting, or prejudice the corporate interest for the benefit of one or several shareholders or third parties.
Read the full article here.
Access the Spanish version here.
