Companies Act 19,550 · Article 353 — Removal of the trustee
Removal of the trustee (art. 353 LGS)
Article 353 of the General Companies Law allows the trustee to be removed without cause by the debenture holders' meeting, or judicially for just cause at the request of a debenture holder.
What article 353
Article 353 governs the removal of the trustee.
Official text · Act 19,550, art. 353
The trustee may be removed without cause by resolution of the debenture holders' meeting. It may also be removed judicially, for just cause, at the request of a debenture holder.
Source: Law 19,550, art. 353 — InfoLEG (updated official text)
Commentary
The debenture holders control their representative: they may replace it freely at the meeting, and even a single debenture holder may seek its judicial removal if there is just cause.
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