The Commercial Department of the Amsterdam Court of Appeal today dismissed all claims of SBK Art (‘SBK’, a sanctioned company under the control of Russian Sberbank and co-owner in the Fortenova group with 42.5% frozen voting rights) and confirmed all decisions made yesterday at the assembly of depositary certificate holders of the Fortenova group in the Netherlands, according to a statement from the Fortenova group.
The Dutch judiciary thus confirmed the positions and decisions of the same Court of Appeal in Amsterdam from December 2022 and prevented sanctioned individuals from influencing the management and decision-making in the Fortenova group.
– This decision is yet another confirmation of the legal positions of the Fortenova group and its commitment to respecting international sanctions and preserving the company’s value. We are pleased that the Dutch judiciary recognized and upheld the rights of the majority of unsanctioned co-owners of the Fortenova group. The Fortenova group is beginning to work on implementing the decisions of its co-owners – said Fabris Peruško, re-elected CEO of the Fortenova group and member of the Management Board for a new six-year term.
