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It is freehold management company with each owner of the property having one equal share. The flats were developed ten years ago and it was set up like this first place.
No, we are not obliged to be directors just that we have the option. We are leaseholders.
So it is only the articles that prevent non owners to be directors? what would the articles of this type of company say on Directors?
Why do you say that is it expensive to protect minority rights and do you think we would have a case for being removed?
what is to stop me becoming a director again if I have the right under the articles? How could they remove the right under the articles and would this be a breach of the s994 and a stronger case?
The articles are very clear in that each owner has the right if they try to stop me being a director then they are removing my right under the articles, surely that's not right?
Do you have any experience of of a case where a shareholder is denied being his right to be a directors?
Expensive and not very successful?
Can you tell me how much it would cost to apply for a petition under s994. Once I have applied is it easy to withdraw?
Once you have applied, you're locked into court proceedings until they're resolved at a final hearing, or until you reach an agreement. It would probably cost you about £3,000 - £5,000 to kick off the process and get a petition drafted.
Last question then I will finish.
Under the circumstances what would most shareholder do in my position to protect their rights? The problem is it only takes one bully to try and remove other owners rights. At some point it must reflect on selling prices etc. Do you find people just roll over? I would welcome your opinion given your experience.
Thanks so much.
I don't think he will worry about money. However the residents should care when as what he is actually trying to achieve will deter property sales. May be they will come out of the woodwork.