Lawyers from the Nove and Sorainen law firms have successfully represented private individual Tarmo Tamm before the Estonian Supreme Court in a dispute involving the liability of a board member.
According to a Nove press release, "the dispute centered around the issue of the rights and opportunities of a shareholder in a private or public limited company being acquired (and thus deemed to be dissolved) upon merger of companies, in particular if the shareholder disagrees about the proposed size of shareholding in the acquiring company (the share exchange ratio)." According to Nove, "the complexity and fundamental significance of the matter is confirmed by the fact that the case was heard by the full panel of the Civil Chamber of the Supreme Court. As a result, the Supreme Court set aside the rulings of lower courts and gave in itself the final judgment on the matter."
The Nove team was led by Partner Veikko Puolakainen.
The Sorainen team was led by Partner Carri Gintner.