Legislator Case Law & Legislation
Itä-Suomen HO 18.06.1981 TU-504/80 AI generated

Court of Appeal dismissed shareholder derivative suit; Supreme Court upheld decision on standing and procedural requirements.

Case Number Itä-Suomen HO 18.06.1981 TU-504/80
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Dismissed

Legislator summary

AI generated

The Court of Appeal dismissed the shareholder's derivative action, ruling that the plaintiff lacked standing to sue on behalf of the company. The Supreme Court subsequently upheld this decision, confirming that the procedural prerequisites for such litigation were not met. Consequently, the claim was rejected as the shareholder failed to demonstrate the necessary legal interest or proper standing under Finnish corporate law.

Legislator headnote

AI generated

Shareholders Act 1969; Companies Act 1969: A shareholder may not bring a derivative suit unless they have exhausted internal remedies and can prove the company's refusal to act, and the Supreme Court upheld the Court of Appeal's dismissal of the action for lack of standing.

Keywords

AI generated
shareholder derivative suit standing requirements internal remedies corporate governance Finnish Companies Act procedural prerequisites Supreme Court review

Cited Legislation

AI generated
Shareholders Act 1969
Companies Act 1969

Cited Case Law

AI generated
KKO:1939-II-111
KKO:1939-II-111, KKO:1949-II-48 ja KKO:1938-II-601
KKO:1949-II-48
KKO:1939-II-111, KKO:1949-II-48 ja KKO:1938-II-601
KKO:1938-II-601
KKO:1939-II-111, KKO:1949-II-48 ja KKO:1938-II-601
AI generated

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Full text

KKO:1939-II-111, KKO:1949-II-48 ja KKO:1938-II-601

Caselius - Heikonen - Huttunen: Osakeyhtiö I, ss. 132,

134, 137-140

KKO:n ratkaisu:

Tuomio 22.6.1982 n:o 996: Myönnettyään valitusluvan KKO ei muuttanut HO:n tuomiota.