Ellex Raidla successfully represented BLRT Grupp AS and its shareholder Algaves OÜ in a dividend dispute
The minority shareholders of BLRT Grupp AS filed a claim with a court to request dividends pursuant to minutes that seemingly reflected a general meeting of shareholders that 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 that there is no basis for ordering dividends pursuant to minutes drawn up by the minority shareholders.
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.