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Abuse of rights by majority shareholders, conflicts of interest and violation of the right to information within the Bill
2 de septiembre, 2014
I. Right to information and abuse of rights
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1. Although nuances were far from clear, until now case law recognized a «final possibility» for companies to deny shareholders the information requested prior to or during the shareholders meeting. Even if the information had been requested by shareholders representing 25% or more of the share capital, the directors could still refuse to deliver or make available such information if they proved that possession of the same would be abused, such as by hindering the company’s affairs with unnecessary documentation, reduplicating costly-to-produce information already held by the requester or, mainly, using it to obtain an advantage with a competitor. Even so, case law was not unanimous, with outcomes and principles depending on the peculiarities of each case.
 ,
1. Although nuances were far from clear, until now case law recognized a «final possibility» for companies to deny shareholders the information requested prior to or during the shareholders meeting. Even if the information had been requested by shareholders representing 25% or more of the share capital, the directors could still refuse to deliver or make available such information if they proved that possession of the same would be abused, such as by hindering the company’s affairs with unnecessary documentation, reduplicating costly-to-produce information already held by the requester or, mainly, using it to obtain an advantage with a competitor. Even so, case law was not unanimous, with outcomes and principles depending on the peculiarities of each case.
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