Article
Directors Cannot Delay Shareholder Votes: Cayman Court Limits Postponement Powers
When a majority shareholder sought to remove directors through an extraordinary general meeting, the board attempted to postpone the vote indefinitely using broadly drafted powers in the company's articles of association. The Cayman Grand Court was asked to determine whether such procedural mechanisms could be deployed to effectively neutralise fundamental shareholder rights, and whether directors could entrench themselves by blocking the very votes intended to remove them.
Appleby