What else should be changed in the Joint Stock Company Law to make it more working?
I think, a more civilized solution shall be found of the share dilution issue. There is the notion of the blocking interest (25% + 1 voting share). If you have less than that, there is no guarantee you won’t be diluted. In particular, we recently represented the interests of a shareholder owning about 20%. Obviously, the evaluation of a 20% and a 25%+1 stakes differs non-proportionally. This is not quite fair and it infringes the interests of minority sharehoders. To make them feel more comfortable, they must be given a possibility in case of an additional issue (with which they disagree) to either sell their shares at a fair price, or to find another way to settle this problem. What is your attitude regarding the possibility to settle corporate disputes without court trial? This is absolutely realistic. YUKOS, TNK, RAO UES managed to reach an agreement with shareholders on some issues. I have an impression that the era of straight forward violations of shareholders’ rights is over. To
