Victory in the dispute over the annulment of the decision of the general meeting of shareholders

Our Dispute Resolution lawyers won an important case in the appellate court defending a client (company) against an unfounded shareholder’s claim requesting the annulment of the resolution of the general meeting of shareholders on the adoption of new articles of association.

The appellate court upheld the findings of the court of the first instance that the provisions of the new articles of association, which set out a different procedure for the election of the company’s director and board, were not contrary to the mandatory provisions of the Law on Companies and the principles of reasonableness and fairness. Most importantly, the appellate court found that the provisions on the election of the company’s director and board laid down in the Law on Companies were not mandatory, therefore the articles of association may set out a different procedure for the election of relevant bodies of the company.

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