The client owns a 50 % share in the authorized capital of the plant in Slavyansk-on-Kuban. It is one of the major processors of agricultural products in the Krasnodar region. The second owner of 50% share decided to intercept man-agement and appointed his own head of plant. To this end, he convened a Board of Directors, which consisted of three out of five members under his control and elected a new General Director.
The client filed a lawsuit against the plant ask-ing to invalidate the decision of the Board of Directors on the three following grounds: viola-tion of procedure for convening and conduct of meetings (convening application was for-warded one day before the meeting date with-out consent of Chairman of the Board of Di-rectors), quorum violation (4 out of 5 mem-bers), a newly appointed General Director was previously recognized as a bankrupt by the court decision.
The Krasnodar Region Commercial Court agreed with our reasons. On November 28, 2019, the court satisfied the client’s claim, in-validated the decision of the Board of Direc-tors and reinstated the former General Director.
The Senior associate Sergey Radchenko repre-sented the clients interests.Back