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Sale of subsidiary

If the articles are silent and there is no shareholder's agreement or similar which specifies what decisions require the vote of the shareholders, is the sale of a subsidiary a decision that can be made just by the directors (in accordance with the articles stipulation of directors' resolutions).

Many thanks.

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18th Jan 2013 13:06

My understanding is

that unless there is anything in the articles to say otherwise the directors are appointed to run the business as they see fit.

Thanks (1)