Resolutions of the debenture holders' meeting (art. 355 LGS)
Article 355 of the General Companies Law makes the resolutions of the debenture holders' meeting binding on those absent and dissenting, with challenges in accordance with articles 251 to 254.
What article 355
Article 355 sets out the binding force and the challenging of the resolutions of the debenture holders' meeting.
The resolutions of the debenture holders' meeting are binding on those absent or dissenting. Any debenture holder or the trustee may challenge resolutions not adopted in accordance with the law or the contract, applying the provisions of articles 251 to 254.
Source: Law 19,550, art. 355 — InfoLEG (updated official text)
Commentary
As in the shareholders' meeting, the majority binds everyone, but unlawful decisions may be challenged. It provides certainty and control at the same time.
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