Another victory in the Supreme Court: shareholders have the right to complain about wrong entries in the Commercial Register

Who would have though that Latvian administrative courts could rule that shareholders have no right to challenge illegal entries in the Commercial Register as to who the righful officers of the company are, and yet this is exactly what the courts had ruled.

Who would have thought that an extract from the Register of Shareholders as to who the shareholders are could be insufficient to prove the shareholding in court when the challenged Management Board alleges that the claimant shareholder is no longer a shareholder, and yet once again this is exactly what the courts had ruled.

It took the Senate of the Supreme Court to overrule this nonsence. The Supreme Court ruled that shareholders do have the right to challenge illegal entries in the Commercial Register as to who the righful officers of the company are and that extracts from the Register of Shareholders as to who the shareholders are may not be cast away simply because the challenged Management Board alleges that the claimant is no longer a shareholder. While the ruling is delightful, it is also sad and daunting that it takes the Supreme Court to achieve justice in such simple matters.