lacote0_0 Posted April 5, 2007 Share Posted April 5, 2007 Can anyone point me to authority in the Codes or elsewhere for the proposition that all shareholders must be treated equally? Link to comment Share on other sites More sharing options...
Llwyncelyn Posted April 5, 2007 Share Posted April 5, 2007 Hi can only speak from experience of the UK and when dealing with the needs of minority shareholders in UK registered companies. UK company law plus equity provides for exactly that but there are thousands of cases and stated cases where majority shareholders turn the screw on minority. The minority are forced to go to law and only in the UK but it costs and I mean costs. The Company courts fees are amongst the highest in the UK.This obviously is a French problem and thus say a SARL or an SCI?Then you need to take legal advice. Link to comment Share on other sites More sharing options...
lacote0_0 Posted April 6, 2007 Author Share Posted April 6, 2007 Many thanks for your helpful reply.It's an SA quoted on the Bourse. The company claims that there is some (unidentified) overriding principle of equality which means all shareholders must be treated the same, to the exclusion of the particular interests of the minority class.I agree that I need legal advice! Link to comment Share on other sites More sharing options...
BJSLIV Posted April 6, 2007 Share Posted April 6, 2007 You aren't talking about Eurotunnel by any chance? I see that they are in effect withdrawing the unlimited free travel concession granted when the shares were issued, and replacing them with something a lot less generous. This is said to be on the grounds you outlined above. Given the circumstances of Eurotunnel's financial restructuring, I would expect that lots of very expensive legal advice will have been taken to ensure what they are proposing is legit... Link to comment Share on other sites More sharing options...
Benjamin Posted April 6, 2007 Share Posted April 6, 2007 [quote user="BJSLIV"]You aren't talking about Eurotunnel by any chance? I see that they are in effect withdrawing the unlimited free travel concession granted when the shares were issued, and replacing them with something a lot less generous. This is said to be on the grounds you outlined above. Given the circumstances of Eurotunnel's financial restructuring, I would expect that lots of very expensive legal advice will have been taken to ensure what they are proposing is legit...[/quote]This easily could be Eurotunnel but aren't their small shareholders rather good at organising themselves?Didn't they get rid of the previous Board of Directors? If so, they must now really be wishing they hadn't! [:P] Link to comment Share on other sites More sharing options...
lacote0_0 Posted April 6, 2007 Author Share Posted April 6, 2007 What else but Eurotunnel.If the advisers were paid by the page they must have made a fortune (in two languages)!Doesn't mean to say they are right! Link to comment Share on other sites More sharing options...
lacote0_0 Posted April 6, 2007 Author Share Posted April 6, 2007 You may be amused by this link to the French shareholders forum on Boursorama. Not quite as gentlemanly as this place! http://www.boursorama.com/forum/file_messages.phtml?symbole=1rPTNU Link to comment Share on other sites More sharing options...
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