In Re (#11 November 2014)

Haste Makes Waste: Guide on Speedy Passing of Corporate Resolutions

by Oleksandr V. Polonyk, Danylo S. Volkovetskyi

Business reality often requires quick decisions from companies. This imperative, however, may conflict with corporate governance procedures. For example, material transactions normally require approval by the general meeting of a company (GM), while legislation mandates that long notice procedures must be observed to convoke a GM. If the company failed to arrange for the corporate approvals in advance, it may eventually be too late and a business opportunity may be missed. In this article we will review a few possible solutions which may be explored by a limited liability company (LLC) when the need for quick approval is pressing…

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