Supreme Court dismisses claim that shareholder vote was invalid, allowing employment contract with manager to stand.

The Supreme Court dismissed the appeal against a lower court ruling that declared employment contracts void as sham transactions. The lower court found that a shareholder resolution appointing an employee as a proxy to sign contracts with other shareholders was invalid under the Commercial Code. The Supreme Court held that the resolution was valid and the proxy's appointment correct, rejecting the lower court's finding of a sham transaction without proving the specific intent to evade the law.