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Judgment of the Presidium of the Supreme Commercial Court of 22 November 2011 № 17912/09 in the case The Company "Priokskoe" vs Company "Akvamarin" et al.

Point of law: whether the loss of corporate control by a member of limited liability company which has led to the temporary inability to change the LLC’s director-general, may serve as a ground for the tolling of the period of limitations for the purposes of challenging a transaction concluded by this director-general?

Alternative views: 1) the transaction in question has been made at the will of the owner (LLC) whose lawful representative was the director-general, and this is why the period of limitations should start at the moment of making the transaction and should not be interrupted for the period of the loss of corporate control; or 2) the period of limitations may be interrupted for the time when the corporate control was temporarily lost.

Ratio decidendi: the Presidium has found the second solution to be legally correct, having pointed out that the possibility of contesting the transaction has appeared only upon regaining the corporate control by the member of LLC, so that the refusal to apply the statute of limitations may serve as a sanction for the abuse of right.

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