Danube Logistics: Chisinau Appeals Court declares Bemol’s actions against Danube Logistics unlawful
"On 14 October 2014 the Amsterdam District Court ruled in a provisional, first instance judgement that Bemol’s contested actions against Danube Logistics SRL and Danube Logistics Holding BV are a matter of Moldovan law. In this context, we hereby inform that the Chisinau Appeals Court ruled on 22 October 2020 in a final judgment that Bemol’s attempt to seize part of Danube Logistics SRL’s dividend payments to its Dutch shareholder Danube Logistics Holding BV is in breach of applicable Moldovan legislation," the document reads.
It is said that "Bemol has been trying to seize Danube Logistics SRL’s dividend payments to Danube Logistics Holding BV based on a financial claim against Mr. Moser."
"This claim, which is being disputed by Mr. Moser at the European Court for Human Rights, is entirely unrelated to Danube Logistics SRL and its Dutch shareholder. Danube Logistics Holding BV and Danube Logistics SRL were not party to the legal proceedings between Bemol and Mr. Moser. Mr. Moser is neither a shareholder of Danube Logistics SRL nor a shareholder of Danube Logistics Holding BV, as Danube Logistics Holding BV is a wholly owned subsidiary of yet another Dutch company. The Chisinau Appeals Court therefore correctly concluded that Danube Logistics Holding BV’s assets are not Mr. Moser’s assets and that his liabilities are not Danube Logistics Holding BV’s liabilities," the press release reads.
According to it, "apart from Danube Logistics SRL and Danube Logistics Holding BV also the European Bank for Reconstruction and Development (EBRD) appealed against Bemol’s illegal actions. According to a participation agreement the EBRD is entitled to 65% of the dividend and share sales proceeds related to Danube Logistics Holding BV’s shareholding in Danube Logistics SRL."
