Corporate Litigation Review
PJSC “RPC UWC” (RPC UWC or the Company) (MOEX: UWGN) reports the court rulings received as at the current date concerning litigation proceedings related to the resolutions taken at the Extraordinary General Meeting of Shareholders dated 19 March 2018 (the EGMS).
On 18 April 2019, the Arbitration Court of Moscow dismissed the appeal of IQG ASSET MANAGEMENT, JSC, and upheld the ruling of the Court of Appeal dated 20 November 2018.
On 20 November 2018, the Ninth Arbitration Court of Appeal of Moscow considered the claim filed by Roman Savushkin who held the position of CEO at RPC UWC at the date of the ruling, and invalidated the EGMS resolutions approving the Company's suretyships to guarantee the performance by its subsidiaries of their obligations under some freight car sale and purchase agreements.
The court rulings reinstate the position of RPC UWC on that there are no grounds for shareholders failing to attend the EGMS or voting against those resolutions to claim for a buyback of their stock.
