of May 22, 2007
About recognition invalid board decisions
(determination of Trial chamber on economic cases of the Supreme Court of Ukraine of 19.07.2007 it is refused to open production on review)
Case No. 1/1166-9/407
NAME OF UKRAINE
The Supreme Economic Court of Ukraine as a part of board of judges: V. Ovechkin - the chairman, E.Chernov, V. Tsvigun
with the assistance of representatives:
JSC LVOVORGRES - Polyansky V. E. - (time. of 04:05. 2007)
JSC Zapadenergoavtomatika:
- Andronov P. S. - (time. of 21:05. 2007)
- Yukhman Yu. M. - (time. of 21:05. 2007)
considered the writ of appeal of JSC LVOVORGRES
on the resolution of the Lviv Economic Court of Appeal of February 12, 2007
on case N1/1166-9/407 of economic court of the Lviv region
in the claim of JSC LVOVORGRES
to JSC Zapadenergoavtomatika
about recognition invalid board decisions
ESTABLISHED:
Decision of economic court of the Lviv region of 21.11.2006 (judge: L. Danko) claims are satisfied partially, board decision of JSC Zapadenergoavtomatika about sale of production rooms is nullified of 07.02.2005 (the protocol N 3). Regarding requirements about purpose of judicial examination proceeedings are stopped because of refusal of the claimant of the claim. For the rest in trebovaniyakhotkazano.
The judgment is motivated by those circumstances that the defendant performed sale of the corresponding property on non-competitive and unprofitable conditions, at the price is much lower than residual book value of objects of sale, than unreasonably reduced the assets and violated the interest of the claimant protected by the law as shareholder on profit earning from activities of the defendant; according to the charter of the defendant council of society, but not board shall make the decision on property acquisition.
As for requirements about purpose of judicial examination, the claimant submits the petition for refusal of carrying out the last as the defendant provided all necessary documents therefore in this part the court accepts refusal of the claimant and production stops.
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