INFORMATION LETTER OF PRESIDIUM OF THE SUPREME ARBITRATION COURT OF THE RUSSIAN FEDERATION

of November 25, 2008 No. 127

The presidium of the Supreme Arbitration Court of the Russian Federation considered the Overview of practice of application by Arbitration Courts of Article 10 of the Civil code of the Russian Federation and according to article 16 of the Federal constitutional Law "About Arbitration Courts in the Russian Federation" informs Arbitration Courts on the developed recommendations.

Appendix: the overview on 21 leaves.

Overview of practice of application by Arbitration Courts of Article 10 of the Civil code of the Russian Federation

1. The court of cassation instance refused satisfaction of the invalidation action of the solution of the board of directors of joint-stock company, having recognized presentation by the claimant of the specified requirement as abuse of the right to contest as violation of the charter of society in case of adoption of the disputed decision is caused by unfair actions of the claimant.

Citizen A., being the CEO of joint-stock company, appealed to Arbitration Court with the claim to joint-stock company (further - society) about recognition invalid solutions of the board of directors of society (further - the board of directors) which ahead of schedule stopped its powers and the new CEO is elected.

The resolution of the Trial Court left without change by the court order of appellate instance, the claim is satisfied in view of the following.

As followed from case papers, the charter of society provides: solutions of the board of directors concerning appointment and early termination of powers of the CEO of society are accepted by at least than five voices in case of compulsory attendance at meeting of all board members. The quantitative structure of the board of directors is determined by the charter of society in seven members.

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