We represented AS Ekspress Grupp in disputes concerning the approval of the media group’s annual reports

Our Partner Arne Ots and Senior Associate Martin Raude represented media group AS Ekspress Grupp in disputes concerning the approval of the annual reports of the media group against Grupivara OÜ who had pursued an action in the name of the AS Ekspress Grupp. The action brought by the OÜ Grupivara relied on grounds that the goodwill of AS Ekprerss Grupp’s on-line news portals Delfi Eesti and Delfi Latvia should have been written down in the annual report, in which case no distributable profit would be arisen.
 
On 30 August, the Supreme Court did not accept the appeal in cassation of OÜ Grupivara with regard to the decision of a general AS Ekspress Grupp shareholders' meeting to approve the annual report 2013 as well as the profit sharing plan. In this connection the decision of Harju county court of 14 November 2016 entered into Forde, rejecting the action, brought by the OÜ Grupivara, for the nullity of the decisions of the general meeting of shareholders of AS Ekpress Grupp dated 20 June 2014.