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Ellex Raidla Represents Ekspress Grupp in Dispute Over Approval of Annual Reports

Ellex Raidla Represents Ekspress Grupp in Dispute Over Approval of Annual Reports

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Ellex Raidla has represented media group AS Ekspress Grupp in a dispute with Grupivara OU involving the approval of AS Ekspress Grupp's annual reports.

According to Ellex Raidla, "the action brought by OU Grupivara [alleged] that the goodwill of AS Ekprerss Grupp’s on-line news portals Delfi Eesti and Delfi Latvia should have been written down in the annual report, in which case no distributable profit would be arisen."

The firm reports that, on August 30, 2017, "the Supreme Court did not accept the appeal in cassation of OU Grupivara with regard to the decision of a general AS Ekspress Grupp shareholders' meeting to approve the annual report 2013 as well as the profit sharing plan." The November 14, 2016 decision of the Harju County Court of thus became final.

The firm's team consisted of Partner Arne Ots and Senior Associate Martin Raude.