Former shareholder of one of the most known fish processing plants was not able to contest the sale of his charter capital shares

On May 29, 2012, the Federal Court of Arbitration of the Far Eastern District left unchanged the decision by the Fifth Arbitration Court of Appeal and the ruling of the Court of Arbitration of the Southern Sakhalin Region, according to which a former shareholder of one of the most known in Russia and abroad fish processing plants had not been able to contest the sale of the charter capital share owned by him earlier.

Last year, S.A.Filippov filed with a court of arbitration a claim to rule invalid the agreements of sale and purchase of shares of the charter capital of “Kompaniya “Tunaycha”” and to apply to them the consequences of invalidity, believing that those transactions were shackling.

The claimant alleged that he had sold his charter capital shares on extremely unfavorable conditions, for the reason of difficult life situation.

Lawyers of the Law Firm "YUST" – Advocate Alexander Yevdokimov, head of Arbitration Court Practice, and Lawyer Yulia Karpova – represented the interests of the purchasers of the charter capital share of “Tunaycha”, and the interests of the Company itself.

Dismissing the claim, the Court of Arbitration of the Southern Sakhalin Region pointed out that S.A.Filippov’s arguments did not correspond to the allegedly shackling conditions of the agreements. The difficult life situation of claimant, which had allegedly existed at the moment of signing the agreements, also lacked proof. Besides, as requested by the representatives of the respondent and of the third party, the Court applied the limitation period.

The Fifth Arbitration Court of Appeal, having considered the case of the appeal request, left the ruling of the Court of Arbitration of the Southern Sakhalin Region unchanged. On May 29, 2012, the Federal Court of Arbitration of the Far Eastern District confirmed the legality of the conclusions of the courts of arbitration of the first and second instances.

The full text of the decision of the court of arbitration of the cassation instance was drawn up on June 05, 2012.

For more details on the case No. A59-4398/2011 see here.