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Companies Act 19,550 · Article 114 — Intervention: requirements and evidence

Intervention: requirements and evidence (art. 114 LGS)

The applicant must prove member status, the existence and seriousness of the danger, exhaustion of internal remedies and commencement of removal proceedings.

Source: Act 19,550

What article 114

Article 114 sets the requirements for seeking judicial intervention and requires restrictive judicial assessment.

Official text · Act 19,550, art. 114

The applicant must prove his or her status as a member, the existence and seriousness of the danger, exhaustion of the remedies provided in the constitutive instrument, and that a removal action has been commenced. The court shall assess the availability of intervention restrictively.

Source: Law 19,550, art. 114 — InfoLEG (updated official text)

Commentary

Intervention is not automatic: standing, serious danger, exhaustion of internal corporate remedies and a removal action must all be shown. The statute expressly requires judicial restraint.

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