Key decision of the Federal Supreme Court – no automatic re-election of the Board of Directors in the event of a violation of Art. 699(2) of the Swiss Code of Obligations (CO)
June 2022
The Federal Supreme Court recently ruled on a long-controversial issue among lawyers as to how a breach of Article 699(2) of the Swiss Code of Obligations (conducting a general meeting within six months of the end of the financial year) affects the mandate of the Board of Directors whose re-election would have been on the agenda of the ordinary general meeting.
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