Further extension of Covid-19 measures for companies

1. Holding of meetings in companies – until 31 December 2022

The law of 17 December 2021 further extends until 31 December 2022, without amendment, the provisions of the law of 23 September 2020 on measures regarding the holding of meetings in companies and other legal persons, as amended, to facilitate the holding of meetings of companies in the context of the ongoing Covid-19 pandemic.

(i) General meetings

A company may, even if the articles of association do not provide for it and regardless of the number of participants required for its general meeting:

  •  hold any general meeting without physical attendance; and
  •  impose to its shareholders or partners and to the other participants to participate and exercise their rights by a written ballot paper, in electronic form or by videoconference.

A shareholder, a partner or any other participant may also participate in the general meeting and exercise his/her rights through the intermediary of a proxy appointed by the company.

(ii) Meetings of other bodies of companies may be held, without physical presence, by written circular resolutions or videoconference.

2. Declaration of bankruptcy – until 30 June 2022

Another law of 17 December 2021, amending the law of 19 December 2020 on the temporary adaptation of certain procedural provisions in civil and commercial matters, as amended, has been adopted to further extend the suspension of the one-month deadline to declare bankruptcy until 30 June 2022.

If you have any questions regarding the above, please liaise with your usual Linklaters contact.