UNLAWFUL DECISIONS OF THE SHAREHOLDERS ASSEMBLY AND LEGAL OPPORTUNITIES FOR THEIR REFUTATION

Abstract

The Shareholders Assembly is a body of the shareholders
company that includes and incorporates all the shareholders, with the
aim of exercising their rights in the work of the company.
The decisions of the Shareholders Assembly, since its
institutionalization, and during its operations, are legal acts (legal work).
Just like any other legal action, the decisions of the Shareholders
Assembly must be in accordance with the Constitution, the laws and
good business practices. However, the decisions of the Assembly are not
always in accordance with legal norms, or they may be illegal from a
legal and substantive perspective. In such cases, the decisions of the
Shareholders Assembly shall be invalid (entirely or partially), because
the conditions for their validity, in accordance with legal norms and the
statutes of the company, have not be met.
The main objective of this paper is to assist in determining the
types of unlawful decisions, and their clarification, to clarify the manner
of exercising judicial protection against unlawful adopted decisions, to
specify the types of lawsuits challenging unlawful decisions, and to
indicate the legal consequences from court decisions.