Article „Special audit helps applying the right of minority shareholders“ by Karin Ploom
In the 6th issue of the financial magazine Raamatupidamisuudised an article „Special audit helps applying the right of minority shareholders“ by attorney Karin Ploom was published.
The author explains how, based on Art 330 (1) of the Commercial Code, the shareholders whose shares represent at least one-tenth of the share capital may demand a resolution on conduct of a special audit on matters regarding the management or financial situation of the public limited company. Such regulation is also valid for private limited companies (Art 191 (1) of the Commercial Code). The author explains the cases in which it is possible to demand the conduct of special audit by minority shareholders, analysing also recent court practice and the practical aspects to be considered upon turning to court.
Short introduction of the article in Estonian is available here.