Dumler and Partners represented the purchaser of a share in a major Russian advertising holding in a corporate dispute related to breach of the share purchase agreement and shareholders’ agreement.
The dispute affected 20 companies in six jurisdictions: Russia, Cyprus, the UK, the British Virgin Islands, Belize and Sweden. The underlying transaction was governed by English law with dispute resolution under the Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce.
The situation was complicated by the holding’s Russian companies having access to corporate governance blocked and the escalation of internal disagreements between the exiting shareholders in separate litigation in the Russian courts.
The dispute covered a wide number of issues: the initiation of a business process audit, reconfiguration of the holding’s corporate governance, and settlement of the financial liabilities in the holding’s operations.
The dispute was ultimately settled by the sellers renouncing all their financial claims to our client and the holding’s corporate governance being normalised.