The fundamental issue examined in that case concerned the predominance of a company`s articles of association over the shareholders` agreement. The Tribunal decided that the restrictions on the portability of shares were mentioned in the articles of association and, in that case, they were not mentioned in the articles of association, but in the shareholders` agreement it was not applicable to the defendants. This case is often invoked when it comes to calling into question the applicability of a shareholders` agreement. Therefore, the SHA describes the rights, obligations of shareholders and provisions relating to the management and authorities of the company. The purpose of this Agreement is to protect the interests of shareholders; That is, those who hold less than half of the company`s equity.

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