Sergei Bakeshin has commented for the Novy Prospect on the court dispute that could end a 15-year corporate conflict

Minority shareholders of PJSC Kirovskiy Zavod tried to recover from the current general director of the company and former members of the board of directors up to 76.3 billion rubles. In their opinion, this is the amount of losses incurred as a result of “offenses against Kirovskiy Zavod and its shareholders that lasted from 2005 to 2015.” The dispute may be heard in the Supreme Court, but all previous instances sided with the defendants, who in turn applied to arbitration to recover about 6.5 million rubles in court costs from the plaintiffs.

According to Sergei Bakeshin, Head of Dispute Resolution and Insolvency Practice at Maxima Legal, the dispute on recovery of court costs can be considered as the final point in the corporate conflict at Kirovskiy Zavod. As the expert explained to the Novy Prospect online edition, “the plaintiffs have reached the Supreme Court and exhausted all judicial remedies. It would be very difficult to succeed in a new lawsuit based on the events of 2005, because the statute of limitations has already been missed”.

“The court is likely to impose court costs on the losing party. But the amount of these costs will most likely be reduced,” Sergei summarized.

To read the full article (in Russian) please see the Novy Prospec online publishing  >>>