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Date: 2 months ago   Category: Law

The claim of shareholders of State farm of Lenin to Grudinin on 2.1 billion is rejected


Claimants demanded to collect the damage caused, according to them, by the transaction on entering by state farm into authorized capital of TT Development in 2008 of two land plots and to compensate the missed benefit because lands were in idle time Pavel Grudinin. Photo: Mikhail Mettsel / TASS Arbitration court of Moscow rejected the claim for compensation of damage to minority shareholders of State farm of Lenin. Six shareholders demanded compensation for the missed benefit from the director Pavel Grudinin: allegedly the state farm lost money because of the transaction of its subsidiary "TT Development" with IKEA.PRI it claimants increased compensation sum almost by one billion rubles. Thus, the figure grew to 2.1 billion rubles. The defendant does not agree with claims and insists that the damage of the company was not — opposite, only profit. In total the court considered two claims for State farm of Lenin. One of them concerned the transaction of 2008 when TT Development received two grounds worth 1.1 billion rubles from parent company. One of sites was sold to IKEA in 2016 under construction in its territory of shop. Two years later the company refused the plans and stated that it is ready to return both the earth, and the means spent for its acquisition. Because the transaction was not brought up for the general vote of shareholders, the court of three instances recognized it as illegal. The director of state farm noted that TT Development will be liquidated, and the property of the company will return to state farm. In the second claim minority shareholders demanded to indemnify loss because the lands transferred to the TT Development company actually were in idle time and shareholders lost possible benefit. The court rejected the claim. Grudinin's representative said that the state farm received not damage, but profit from transactions with sites. So, the earth returned to state farm with the increased cost because of change of legal accessory of sites — from farmlands on lands of settlements. The partner of Lawyer bureau A2 Mikhail Kyurdzhev considers the judgment to leave shareholders without compensation for damage reasonable: Mikhail Kyurdzhev the partner of Lawyer bureau A2 "At my subjective view, the decision looks predictable taking into account a position of the defendant and lawyers. In general it is very heavy to estimate losses. And the court cannot estimate them, and claimants cannot prove by that the sum of requirements. Now the requirement of IKEA to TT Development, and further, perhaps is considered, regress it will be possible to impose some requirements. But now so far neither at state farm, nor at TT Development, nor at IKEA — nor any of the parties had no negative consequence in the form of some losses". IKEA already addressed with the claim to TT Development with the requirement to collect from the seller a penalty for violation of terms of transaction. The company intends to receive 80 million rubles from "subsidiary" of state farm. To add BFM.ru to your sources of news?

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