RKKW law firm defends client against unjustified revocation of resolution

An action was brought against RKKW’s client for revoking a resolution of the general meeting, claiming that the challenged resolution is contrary to good practice and is intended to harm shareholders, including the minority shareholder bringing the action. The value of the dispute was set at nearly PLN 2 million.

However, the pending case did not only concern the fate of an individual resolution but was of strategic importance for the Client. The defendant in the case and, at the same time, RKKW’s client, is a public company with shares listed on the regulated market operated by the Warsaw Stock Exchange. In turn, the initiated court proceedings resulted in a prolonged suspension of the delisting proceedings before the Polish Financial Supervision Authority. The suspension of the planned delisting procedure therefore had a negative impact on the issuer’s internal and external situation.

After more than four years of extensive evidentiary proceedings, including the participation of an expert witness, the plaintiff failed to prove the validity of the formulated claim. The claim against RKKW’s client was dismissed in its entirety, and the court, in announcing oral reasons for the judgment, fully agreed with the arguments presented by our law firm. Satisfaction with the obtained verdict is all the greater as the ruling in question should significantly affect the Client’s business plans and processes related to the withdrawal of shares from trading on the regulated market.

The ruling is not yet final.

Legal services in this case were provided by Partners of RKKW – Karol Maciej Szymański and attorney-at-law Dariusz Kulgawczuk, as well as Senior Associates – advocate Karolina Kobojek and attorney-at-law Kornelia Łuczejko.