English
The Brokers" Association, represented by President Dan Paul, said they would take SIF 1 Banat - Crisana to court asking that the Shareholder Meeting be enabled to make decisions with less than 50% of the votes present. This method was also used with SIF 3 Transilvania and it made it possible to increase the share capital by granting free shares. The intention is to have the court nullify certain articles from the SIF 1 bylaws and apply Law 31 stipulating that decisions of the Shareholder Meeting can be made with 25% of the present votes.
SIF 1 General Manager Ioan Cuzman said he had no objection to whatever the shareholders may do as long as they didn"t break the law. In turn, Dan Paul said he was going to identify provisions of the SIF 1 bylaws that could be challenged in court. He mentioned that the foreign shareholders of SIF 1 had not expressed any support for this initiative and had not mailed their votes as requested.
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