The Ministry of Industry and Trade won a court case against a Finnish company

The Ministry of Industry and Trade won a court case against a Finnish company.

In a recent court case, the Moscow Region Arbitration Court issued a decision to suspend the corporate rights of the Finnish company Arctech Helsinki Shipyard Oy, which owns a 49% stake in the Nevsky Shipyard. This decision was made as a result of satisfying a claim filed by the Russian Ministry of Industry and Trade in August of this year. The trial was held behind closed doors, which added intrigue to the case.

The media speculated about the connection between the claim and the suspension of the rights of the Finnish co-owner of the plant. Now, after the court's decision in favor of the Ministry of Industry and Trade, there is a possibility that the direct owner of the Nevsky Shipyard may be the managing United Shipbuilding Corporation.

This case is part of a broader practice of the Ministry of Industry and Trade aimed at suspending the corporate rights of foreign shareholders of companies included in the list of economically significant organizations (ESO). The relevant law, adopted in the spring of 2023, establishes the criteria for the selection of EZOs and grants beneficiaries the right to receive shares and interests in direct ownership through the court, bypassing foreign structures from foreign jurisdictions.

https://www.vedomosti.ru/business/news/2024/09/17/1062657-sud-priostanovil-prava

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