A REPRESENTATIVE OF THE MAJORITY SHAREHOLDERS OF TOLYATTIAZOT ALLEGED VIOLATIONS AT THE SHAREHOLDERS' MEETING

ELENA GLADYSHEVA, MANAGING PARTNER OF RI-CONSULTING LAW OFFICE

The representative of the trustees of more than 70% of the shares of Togliattiazot PJSC (TOAZ), lawyer Maria Agranovskaya stated about violations at the extraordinary general meeting of shareholders. Its participants on Saturday voted for the early termination of the powers of the managing organization of Corporation Togliattiazot JSC and elected a new Board of Directors.

Elena Gladysheva commented to Kommersant FM on the legal aspects of the situation - How is a corporate conflict assessed from a legal point of view? What is the status quo of the parties to the conflict and what are the possible options?

Read more about the case and Elena's commentary on the air of Kommersant FM: https://vse.fm/station_48/UTC+3/2021/11/29/06:22:55/play

The enterprises call the current situation a raider seizure. The same was brought to the attention of the prosecutor's office and the FSB by the plant's temporary General Director Andrei Bobkov, who was detained on Friday night, but it is premature to say that the current owners have lost control over Togliattiazot, says Elena Gladysheva, Managing Partner of RI-Consulting: "In any case, the management and work instrument at the enterprise remains, it becomes more complicated and takes longer because if something is not performed, it will be enforced by the courts. But based on the fact that the corporate conflict in the judicial plane has existed for quite a long time and the whole country is watching it, only the forces have redistributed - who will be the fastest to reach it". It turns out that the end of the corporate conflict has not yet been reached, at least not until the time when in Samara they have to consider the majority's complaint against the verdict of two thousand and nineteen years. Lawyers call this meeting of the court decisive.

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