Does a director have the power to adjourn a shareholder meeting before it occurs?
British Columbia, Canada
The following excerpt is from Northern Minerals Investment Corp. v. Mundoro Capital Inc., 2012 BCSC 1090 (CanLII):
The petitioner in support of their interpretation of directors powers refers to Smith v. Paringa Mines Ltd., [1906] 2 Ch. 193 for the proposition that the directors’ power to set the time and place of a shareholders’ meeting and the power of the chair to adjourn it does not imply the power to postpone the meeting before it occurs.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
In what circumstances will the Director of Directors of a Corporation be able to claim that a claim against the Corporation is based on an allegation that the Corporation has not paid the Director a fair share of the proceeds of litigation? (British Columbia, Canada)
Can a director be held liable for any loss arising from a "heated meeting" where he made comments at a meeting about being responsible for an investment? (British Columbia, Canada)
Is there a fiduciary obligation owed by a director to shareholders? (British Columbia, Canada)
Can a plaintiff bring an application for an adjournment, mid trial, despite previous rulings denying adjournments? (British Columbia, Canada)
Is there any case law where a majority shareholder's shares in a company are sold to a single director at a premium? (British Columbia, Canada)
What is the fiduciary relationship between a director and a shareholder? (British Columbia, Canada)
Can a shareholder of a company who is not a director of the company make an application for an oppressive manner? (British Columbia, Canada)
What is the scope of a director's fiduciary duty to a minority shareholder? (British Columbia, Canada)
Can a majority shareholder of a corporation sue the directors of the corporation for personal losses? (British Columbia, Canada)
If there is a fraud on a power, and the trustees attempted to use a power they did not possess, is this court going to rescue the trustees? (British Columbia, Canada)
