Seanad debates
Thursday, 27 September 2007
Air Services.
1:00 pm
Máire Hoctor (Tipperary North, Fianna Fail)
A number of limitations arise under article 84 of the articles of association with regard to the right of a shareholder to overrule Aer Lingus management on business matters. In law, the directors are responsible for managing the company's business and the shareholders are not entitled to overrule management's decision on business issues by way of a resolution passed at an EGM. Directors are not obliged, as a matter of law, to follow any directions from the shareholders regarding business matters or to obey any resolution pertaining to such matters.
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