FBK Legal at ‘Corporate Law and Corporate Governance 2023’ Conference
Ekaterina Kotova, Director of the Legal Consulting Department at FBK Legal, has spoken at the ‘Corporate Law and Corporate Governance 2023’ conference hosted by Pravo.ru. The attendees discussed hot topics, for instance, how to drive your business to achieve targets despite the changing reality, how the ‘new corporate laws’ can coexist with the managerial functions in a company, and how the imposed sanctions affect corporate governance.
In her presentation, Ekaterina Kotova focused on the optimal use of the issuer's right to buy back shares of a liquidated legal entity. Ekaterina reviewed case No. A27-24426/2020, according to which in case of liquidation of a shareholder and failure to ensure legal succession for shares by the former shareholder members, such shares may be returned to a joint-stock company – pursuant to the general rule, based on share redemption provisions of the Law on Joint-Stock Companies.
"The Supreme Court of Russia has made a forward-looking decision, which, unlike one made in 2020, is aimed at returning shares of the shareholder (a liquidated legal entity) to the issuer (a joint-stock company) and putting them back to civil turnover. This is the best way to protect interests of joint-stock companies," Ekaterina Kotova noted.