High Court of Cassation and Justice has ruled that the operation of a company with the Local Council as the sole shareholder and the appointment of its governing bodies or replacement is made under the provisions of the Companies Law no. 31/1990. The fact that the Local Council takes place of the Company Shareholders’ General Assembly of such companies may not lead to the conclusion that the decision taken by the Local Council in the operation of this company is of an administrative nature that can be challenged in court, under Law. 554/2004.(Decision no. 1287 of 8 March 2012 rendered in appeal of Section II of the Civil High Court of Cassation and Justice covering compensation for the revocation of the membership of the CA)
:: The source: JURIDICE.ro
Robert BALASA
