On 17 September 2012, the Moscow Court of Arbitration rejected a claim of a minority shareholder against Luzhniki Olympic Arena OJSC, which was represented by lawyers from EPAM.
The claim was filed by a minority shareholder of Luzhniki affiliated to the former management of the stadium. The claimant attempted to contest the decision of the General Meeting of the Company regarding the additional emission of shares. This emission ensured additional investments into the company from the city of Moscow in the amount of RUR 1bn. Additional resources were necessary for the Company in order to conduct the large-scale reconstruction of the sports complex for the 2018 FIFA World Cup. Based on the results of the consideration of the case by the Moscow Court of Arbitration, the claim was dismissed in full.
The interests of Luzhniki were represented by the Firm's Partner Valery Eremenko, Senior Associate Alina Kudryavtseva, and Olga Semushina and Denis Golubev.
