First AGM since 2005

[illdoit2morrow]

I am part of a small apartment complex (26 units) in Meath.

I received a letter from the management company with regards to an AGM next week, I received the letter last month (I know , I should have done something about this earlier).

This is the first AGM since 2005 that we the owners have been invited to. As far as I am aware, there has been no AGM's since then.

The AGM is planned for a Tuesday morning at 10am which isn't convenient for most members.

Our relationship with the management company has not been great since inception over various matters. I am quiet anxious about what will happen at this AGM due to the fact that they have not engaged with the members via an AGM since 2005.

Should I just go to a solicitor and explain what has happened or should I contact the management company directly to voice my concerns?

 

[lantus]

Tough to understand how that has occurred? Multiple breaches of company law. By law a limited company must hold an AGM at least once every year and keep minutes. Director appointments typically rotate at AGM's. The MUD act requires that directors can not serve any longer than 3 years which came into force sept 2011 so unless the directors have changed they are in breach of the MUD act 2011.

Can't see how an auditor would be able to do their job properly either. Ours required AGM and director meeting minutes for compliance.

Budgets must be approved at AGMs in accordance with the MUD act 2011 and members MUST receive detailed budgets and accounts every year.

Have the members being paying service fee's?

Is this really a management company or is the builder still in control and your just calling it the management company?

Presumably no one has been in the least bit bothered since 2005.

AGMs should be held at convenient times for the members. You could contact the ODCE and make a formal complaint regarding this. But the best bet would be to get more involved in the OMC.

Unless you have all been writing cheques without question how are repairs and essential services being funded? Who is overseeing this? Have the company accounts been audited every year? The easy way to find out is look up the company on the CRO using the company number or name. It will be on any correspondence you receive because by law a ltd company must have that information on all correspondence.

If you haven't been paying fees along with everyone else for 10+ years then your probably all in for a shock as to repair bills to catch up on lost time.

 

[Dermot]

Is the developer involved in the management Company. This is all wrong and is going on all over the country.

You can download a copy of the mud act at [broken link removed]

Advance notice of the meeting must be given to each member 21 days before the meeting (subsection (3)) and a copy of the annual report must be provided at least 10 days beforehand (subsection (4)). Subsection (5) provides that the annual general meeting must take place within reasonable proximity to the multi-unit development unless otherwise agreed in writing by 75% of the members of the company. Subsection (6) makes it clear that the obligations outlined in this section are in addition to any other obligation or duty of the company under any Act, statutory instrument or rule of law.

Copy & paste below for explanatory notes

[broken link removed].

What are the particular problems

 

[Seagull]

I'd be seriously concerned that your management company (as opposed to agent) has been struck off. It's in serious breach of regulations. By memory, failing to hold an AGM for an extended period like that is grounds for strike off. At the very least, there could be some serious penalties involved for non-compliance.

If the developer is still in control of the management company, I would advise you to seek an undertaking from them that they will pay all penalties due to these breaches.