Banks basically want the Securities and Exchanges Commission to give companies more leeway in the way they value their assets.

NPR: U.S. Markets Wait Anxiously For Rescue Plan

The Securities and Exchanges Commission, whose rules Mr Einhorn claims proposal two breaks by bundling several votes into one, had an opportunity to review the proxy filing and made no objections, Apple added.

CNN: Apple claims Einhorn holding investors hostage

Beyond the approval by the accountants and lawyers, the US stock market watchdog, the Securities and Exchanges Commission, has also "approved our last version" of provisions which was published in the 2000 annual report last February, Mr Schmidt said.

BBC: ABB asbestos claims 'set to soar'