The client was involved in the court proceedings as a third party from the side of the management board. According to the client s shareholder, the losses amounted to approximately 2.5 billion. However, for 3 years, the shareholder has been failing to prove any evidence of negative consequences to the client caused by the actions management board and contractor s management, including through the conclusion and execution of the disputed transactions. By his actions, the shareholder put the client in a risky position. In the absence of the sole executive body the shareholder s demand may lead to significant risks for the client with losing the management board, reputation and the important counterparty, issues settlement related to additional tax base, and may also lead to the client s involvement in an endless litigation, causing financial and economic condition of the client to be questioned, and the suspension of activity.

The Commercial Courts of three judicial instances agreed with our arguments and declined the shareholder s lawsuit. The Supreme Court of the Russian Federation declined the shareholder s request to transfer the cassation claim to the Judicial Chamber on Economic Disputes.

ABY s associate Ekaterina Fedenko represented the client s interests.