The Arbitration Court of the Moscow Region has suspended the rights of the Finnish company Arctech Helsinki Shipyard OY to participate in the management of LLC "Nevsky Shipbuilding-Ship Repair Plant" (part of the United Shipbuilding Corporation). The decision was made on September 12 based on the application of the Ministry of Industry and Trade of Russia. The court granted the request of JSC "United Shipbuilding Corporation", which was involved in the case as a third party.
Since the case was considered in closed session, the court decision has not been published. However, it is known that USC in its motion referred to the law "On the specifics of regulating corporate relations in business entities that are economically significant organizations", which allows not to disclose information about such organizations in open processes.
The law, which came into force in September 2023, allows the suspension of corporate rights of foreign holdings in economically significant organizations. This is done to ensure the rights of Russian controlling shareholders in the context of Western sanctions.
Arctech Helsinki Shipyard OY was previously the sole owner of the Nevsky Shipyard, but in May 2020 it sold its shipyard under the new name Helsinki Shipyard OY to Russian owners. As part of the deal, USC received the "Nevsky Shipyard" and 35 million euros.
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