Independent law firm
The usufructuary of shares in a public limited company (société anonyme) is not allowed to request the convening of a general meeting
Authored by Donata GRASSO, Partner and Ella SCHONCKERT, Counsel
In a landmark decision rendered on 2 December 2025, the 4th Chamber of the Luxembourg Court of Appeal held for the first time that the usufructuary of shares in a public limited company does not have the status of a shareholder. Consequently, the usufructuary cannot be granted the rights that the law reserves exclusively to shareholders, including the right to convene a general meeting (Court of Appeal, judgment no. 192/25 IV-COM of 2 December 2025, case no. CAL-2025-00458).
