The client was involved in the court proceedings as a third party from the side of the management board. According to the clients 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 contractors 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 shareholders 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 clients involvement in an endless litigation, causing financial and economic condition of the client to be questioned, and the suspension of activity.

The Commercial Court of Bashkortostan agreed with our arguments and declined the shareholder’s lawsuit.

ABYs associate Ekaterina Fedenko represented the clients interests.