The Onopenko & Partners team defended in court the Client, a European company, in a case over the payment of dividends and interest of 3% per annum, including inflation losses, totaling about UAH 80 million
Onopenko & Partners successfully protected interests of a foreign shareholder in a corporate dispute related to the recovery of about UAH 80 mln of dividends from a Ukrainian company.
The Firm’s attorneys proved in court that the issuing company did not notify the Client of the general meeting that approved the profit and, accordingly, of the resolutions passed at such meeting, including the procedure, amount and timing to pay the dividends for 2011 to 2014. Therefore, the shareholder was entitled to receive the dividends for such period, including a compensation for inflation losses and interest of 3% per annum accrued on the overdue amount of the dividends.
When it comes to the protection of rights to receive dividends due and payable to a shareholder, an effective legal protection gives confidence to investors and basically has a positive impact on the business climate in the country.