The recent Judgement of the Supreme Court of 29 June 2016, relevant to review on appeal, deals with the legal regime of the exclusion of partners with reference to Art. 352.3 LSC (Spanish Corporate Law) which stipulates that “Any partner who voted in favour of the agreement will be entitled to exercise the action of exclusion on behalf of the company when this has not been done so within one month as from the date of adoption of the exclusion agreement”, and it is understood that the period for initiating exclusion proceedings should be the same, both for the company, as well as the partner, although the dies a quo for the action will be different: for the company the time period starts from the date of the adoption of the exclusion agreement, and for the partner, from the day when it is brought to their knowledge that the company had not exercised the action.
Action of exclusion of the managing partner of the company: Expiry of the deadline.
