
Right of separation due to change in corporate purpose
The Provincial Court (AP) of Madrid considers that the lack of coincidence between the corporate purpose and the activities actually carried out by a company
In a recent judgement, the Madrid Provincial Court (SAP of Madrid, 28th Section, Judgement 108/2024, of 5 April), ruled on the equivalence between this system (bureaufax) and registered mail with acknowledgement of receipt, as provided for in the bylaws of the company in question.
In the case in dispute, a shareholder challenged the resolutions of a general meeting of a limited liability company on the grounds that the notice of meeting had been sent by burofax instead of registered mail, a method expressly provided for in the bylaws. The plaintiff argued that this procedural irregularity should cause the nullity of the resolutions adopted at the meeting.
Although the burofax was not expressly contemplated in the bylaws, all the requirements of personal communication and proof of receipt were met, thus guaranteeing the traceability of the process and the certainty of the notification. The Provincial Court emphasised that the objective of the bylaws is to ensure that the notification actually reaches the shareholder, and that this can be accredited, which was fulfilled in this case.
In regulatory terms, the Capital Companies Act (article 173.2 LSC) establishes that the meeting must be convened by means of a written and personal communication procedure and allows the bylaws to provide for other methods as long as the receipt by the shareholder is ensured. In this regard, the Provincial Court concluded that the use of the burofax complies with the regulations, as it offers guarantees similar to those of registered mail.
The Provincial Court (AP) of Madrid considers that the lack of coincidence between the corporate purpose and the activities actually carried out by a company
The Provincial Court (AP) of Jaén confirmed the nullity of a joint account agreement signed in August 2015, on the grounds that it concealed an
In the context of a merger by absorption registered in the Commercial Registry during the 2025 fiscal year, the absorbing entity assumes the obligation to