NETHERLANDS: A COMPANY CANNOT EXERCISE VOTING RIGHTS OR ATTEND THE MEETINGS OF SHAREHOLDERS BECAUSE OF EU SANCTIONS WITHOUT A LICENCE

On 6 January, the EU Sanctions blog reported that a Dutch court had rule din a case involving SBK Art, a subsidiary of Sberbank Russia formed in April 2022 to hold Sberbank’s interests in Fortenova Group.  The court ruled that EU sanctions prohibit a listed person exercising voting rights which could lead to any change in relation to shares and that the voting rights could be an economic resource used to obtain funds, goods or services.

https://www.europeansanctions.com/2023/01/dutch-court-judgment-exercising-voting-rights-can-breach-sanctions/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: