The PanSlovenian Shareholders Association (VZMD) filed an action against Nova KBM requesting the establishment of nullity of some of the decisions and annulment of resolutions adopted on the occasion of the Bank’s Shareholders’ meeting held in July 2008. VZMD disputed the legality of the resolutions on the amendment to the Articles of Association, the recall of the members of the Supervisory Board, and the election of the new Supervisory Board.
The court of the first instance rejected the arguments of VZMD, however, the PanSlovenian Shareholders Association lodged a complaint against the court decision. The court of the second instance also rejected in whole the complaint of the Association. The head of Nova KBM’s legal office Bojan Zadravec said: »The court finally confirmed the arguments given by Nova KBM, which corroborates the correctness of the decisions adopted and enables the Bank to accomplish the planned objectives.«
