Advocate Gazette quoted Artur Zurabyan in a commentary titled: "According to the letter of the law"

Cancellation of decisions previously made by a general meeting of shareholders raises a number of questions. Is special legislation required? Can the provisions on deals be applied by analogy?

Artur Zurabyan, an Advocate and the Head of ART DE LEX Dispute Resolution and International Arbitration practices makes a point about an article by Sergey Uchitel titled “Cancellation No Prohibition”:

“No special legislative regulation is required to solve the problem in question, as the RF Supreme Court has developed clear-cut criteria. Moreover, according to a standard approach used in practice, a resolution of a shareholders’ meeting can be cancelled if it does not create any rights or obligations for third parties and is in fact a preliminary consent to a transaction. Pursuant to the letter of the law, the issue of confirming resolutions of previously held meetings of shareholders does not fall within the competence of the highest governing body of the corporation. At the same time, the position of the RF Supreme Court, which is binding for the lower instances, directly allows such decisions”.

The full version of the article is available in Advocate Gazette at: https://www.advgazeta.ru/.../v-sootvetstvii-s-bukvoy-zakona/

The article of Sergey Uchitel is available here: https://www.advgazeta.ru/mneniya/otmenit-nelzya-zapretit/