by way of introduction, we are a group or residents who bought the freehold of our group of maisonettes in 2006, and are managing them ourselves via a limited company we set up to own the freehold, and to extend and manage the leases.
Each shareholder (and there is one share per flat) has one vote. we have been advised that it would be more suitable to have one buildings insurance policy to cover the whole of the proprieties and grounds, as there are anomalies and we suspect omissions in the current (numerous) insurance policies that each leaseholder/shareholder has, so we have obtained quotes to move forward on that as a collective body with one insurance policy.
However one leaseholder is refusing to co-operate and claims to prefer to make their own arrangements for their insurance, rather than enter into the collective policy.
My understanding of company law is that if meetings are quorate and a majority of shareholders want to go ahead, then the decision are binding on all shareholders. we would then need to decide how to proceed with this ?
can anyone advise ?
TIA
Each shareholder (and there is one share per flat) has one vote. we have been advised that it would be more suitable to have one buildings insurance policy to cover the whole of the proprieties and grounds, as there are anomalies and we suspect omissions in the current (numerous) insurance policies that each leaseholder/shareholder has, so we have obtained quotes to move forward on that as a collective body with one insurance policy.
However one leaseholder is refusing to co-operate and claims to prefer to make their own arrangements for their insurance, rather than enter into the collective policy.
My understanding of company law is that if meetings are quorate and a majority of shareholders want to go ahead, then the decision are binding on all shareholders. we would then need to decide how to proceed with this ?
can anyone advise ?
TIA