Legal Updates

A casting vote will apply only in case of equality of votes

June 3, 2018
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Published in Afik News 260 04.07.2018

The shareholders' agreement in a company and the articles of association of the company set that the chairman of the board of directors has a "casting vote."  The chairman construed that as giving him an additional voice in any vote, even when there is no equality of votes.

The Court held that unless an explicit intention to determine otherwise is proven, and this was not shown in this case, the terms "additional or decisive vote" or "casting vote" in the articles of association mean an additional voting right of the chairman of the board only in situations where there is equality in votes, even if the articles do not explicitly state so cialis sans ordonnance.

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