Smaller Shareholders in Shipyard Concern Target Magnate in Court
Shareholder Mihhail Gnidin has filed an action in Harju County Court to get to the bottom of how the second-richest man in Estonia increased control of the BLRT shipyard group.
Gnidin wants the court to quash a February resolution by BLRT's general shareholders meeting that opted not to probe the background of transactions, which allegedly gave Fjodor Berman and his close relatives preferential treatment.
Gnidin says his co-shareholders have information that the Bermans acquired their shares in BLRT illegally, reaping millions of euros of unjustified gains and increasing control over the company, Postimees reported.
Since on February 13, the Bermans voted against the motion to launch a probe of the transactions, Gnidin wants the court to rule this illegal and obstruction of justice.
BLRT Grupp AS has around 60 shareholders, with the majority control held by board member Fjodor Berman and his family.
Kristopher Rikken