ZRVP successfully represented Electromontaj S.A., a leader in Romania’s energy construction market, in a complex dispute initiated by a shareholder seeking to annul certain resolutions of the general meetings of shareholders. After nearly six years of litigation, the Bucharest Court of Appeals issued a final decision, granting the action for annulment only in part with respect to certain isolated claims and dismissing the remaining claims – thereby upholding the validity of Resolutions 1-3 of the Extraordinary General Shareholders’ Meeting (EGSM) and Resolutions 1-5 and 9 of the Ordinary General Shareholders’ Meeting (OGSM). The court confirmed, among other things, the legality of the company’s articles of incorporation and the rules governing the organization and operation of the company’s Board of Directors.

Beyond the favorable outcome for Electromontaj, the ruling helps clarify important aspects regarding the operation of companies, the rules governing the nullity of general meeting resolutions, the limits of judicial review, and the interpretation of corporate governance rules.