Andra Rubene and Raivis Znotiņš on the protection of rights of minority shareholders

08.12.2015 Andra Rubene and Raivis Znotiņš on the protection of rights of minority shareholders

Attorney at law and partner of “TGS Baltic” Riga Office Andra Rubene and associate Raivis Znotiņš expressed their view on the protection of rights of minority shareholders in the Legal Services supplement to newspaper Dienas Bizness, dated 8 December, 2015.

Among other things, Andra Rubene and Raivis Znotiņš provide an answer to the question, in which cases the court may adjudge the decision of shareholder meeting null and void. Although it is prescribed in the law that the court may adjudge the decision of shareholders null and void, if the decision of shareholders or the procedure of making it has been contrary to the law or the articles of association, or substantial breach has been committed during convocation of the meeting or making of thedecision, Andra Rubene and Raivis Znotiņš indicate that not every breach of such kind may be considered to form reasonable grounds for adjudging the decision of shareholders null and void, which would result in the court rejecting the claim.

To read the article please click here.