OREANDA-NEWS. August 16, 2011. The Ninth Arbitration Court of Appeals dismissed the complaint of minority shareholders of Ingosstrakh Insurance Company related to the court's decision to forbid to dispute the results of the annual meeting of shareholders held on May 29,2010 regarding the approval of interested-party transactions.

The Court reaffirmed the legality of the interested-party transactions that Ingosstrakh Insurance Company entered into, as well as the legality of measures aimed at guaranteeing compliance with legislation during voting at meetings devoted to approval of such transactions.

According to the Director-General of Ingosstrakh Insurance Company, Alexander Grigoriev, the courts once again confirmed the farfetchedness of claims of minority shareholders and the absence of any actual violations. In light of the courts' decisions, the statements of spokesman of PPFI, J. Piskachek, are also laughable. On the eve of another trial that was also won by Ingosstrakh Insurance Company, he had released a statement about the alleged violations of the rights of shareholders by the management of Ingosstrakh Insurance Company.