A minority shareholder of a major project company brought a claim before a commercial court against a former general director regarding recovery of damages in the amount of 3.5 million roubles in favor of the company. This amount was constituted by the amount of the fines of the Bank of Russia paid by the company for breaching the requirements to information disclosure.
The claim was satisfied by the decision of a first-instance court.
Thanks to the work of the lawyers of TRUBOR Law Firm who represented the former general director at the stage of appeal proceedings, the decision of the first-instance court was reversed and the claim of a minority shareholder was dismissed in full.
Taking into account controversies of the court practice on the matter, lawyers of TRUBOR Law Firm managed to persuade the appeal court that in this particular case the general director of the company performed its duties fairly and reasonably in the interests of the company. Untimely and incomplete disclosure of information which resulted in imposing fines on the company was not caused by the performance of the general director's duties. The lawyers of TRUBOR Law Firm presented the evidence of the general director taking measures aimed at preventing further violations discovered by the Bank of Russia.
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