Team of FORT Vilnius is proud to represent 262 plaintiffs gathered by the Investors association in a class action seeking to declare that funds deposited for a non-registered share capital increase of Snoras Bank shall be treated as deposits falling under protection of deposit insurance scheme.

According to Estonian law, the shareholders of a public limited liability company (AS) who hold at least 1/10 of all votes (1/20 in case of a publicly traded company) may propose draft resolutions to be voted on at the general meeting of shareholders. Such draft resolutions must be submitted to the management board at least three days prior to the meeting. In its recent ruling, the Supreme Court confirmed that the same principle applies to setting up candidates for the supervisory board. If a candidate is not proposed at least three days prior to the meeting, his/her candidacy does not need to be put on a vote.