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Raidla Ellex Represents BLRT Grupp and Algaves in Dividend Dispute


Raidla Ellex has represented the BLRT Grupp and its majority shareholder Algaves against a claim brought by BLRT Grupp minority shareholders requesting dividends pursuant to minutes that reflecting a general meeting of shareholders that, according to Raidla Ellex, in fact had not taken place.  

The dispute covered both the authenticity of the minutes as well as the request for dividends. The courts found no basis for ordering dividends pursuant to minutes drawn up by the minority shareholders. 

According to Raidla Ellex, “what raises questions in this case is that the Estonian judicial authorities did not regard a claim made on a basis of fabricated minutes as something that would belong to the field of criminal law.” 

The Raidla Ellex team representing BLRT Grupp and Algaves consisted of Partner Arne Ots and Senior Associates Neve Uudelt and Martin-Johannes Raude.