Shareholders accuse courts of injustice

Shareholders of Baku Repair Construction (Baku Temir Tikinti) JSC on Friday held at the Media Centre a press conference where they complained about the unfairness of the courts.

As one of the shareholders, Hafiz Babali said, in October 2012 a group of shareholders sued the State Property Committee in connection with the decision to transfer to auction a 1.5 ha plot of this enterprise .

The cause of the action was that, contrary to the law, the shareholders were not proposed to privatize or rent this site.

Nor is it clear on what grounds the SPC issued the patch to the auction.

During the trial in Baku Administrative Economic Court N  1 it was revealed that the State Property Committee received a falsified application of the JSC shareholders that they have no opportunities to privatize or rent the object.

At trial, the plaintiffs testified that this issue was not discussed , and generally was not included in the agenda of the meeting of shareholders. As it turned out, the minutes of the meeting was falsified .

Despite this evidence, after a five-month trial, in May 2013 the court ruled in favor of the defendant.

Subsequently the Baku Court of Appeal upheld that decision.

Next the Binagady court of appeals ruled in favor of the defendant.

The shareholders also complained to the court of the State Securities Committee, which has to protect their rights. This agency should have sent representatives to the proceedings of shareholders with SPC, but it did not.

The shareholders said they intend to continue to fight for their rights.

The shareholder Vugar Ismailov said that because the country has no justice in the courts, the  shareholders decided to appeal to the public.

* JSC Baki Temir Tikinti was established in 2001. In 2001-2005 were privatized 70 % and in 2012 - the remaining 30 % of the stake. In September of the same year the first general meeting of shareholders was held. -05C06-