| Commentary

114.2 Third-party references

| Commentary

114.2 Third-party references

The nearest the model articles for private and public companies get to providing any dispute-resolution procedure is by conferring a casting vote on the chairman in respect of certain directors’ decisions1. This is unlikely to be acceptable in the context of most companies for obvious reasons. Even where the chairman is appointed on a rotating basis, for example, changing every six months, the shareholders will not want to take the risk of a key decision coming up for consideration when the opposition’s chairman is in place.

If it is unacceptable to call upon an insider to resolve a

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial