Recently, the Supreme Court decided to invalidate ex officio the processing of a process in which the judicial dissolution of a company was being discussed, ordering to return the process to the state in which the company had been notified of the lawsuit (judgement Rol 127.264-2020).
The reason for the decision was that it had been found that the company whose dissolution was requested had two different boards of directors operating in parallel, who in turn had appointed different general managers. Consequently, it was impossible to determine who was authorised to represent the company in court.
The Supreme Court’s decision corroborates the importance of keeping a company’s books (minutes of shareholders’ meetings and board meetings) and records up to date.
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