Cryo-Save defends against takeover litigation involving major shareholder
Client(s) Cryo-Save Group N.V.
Jones Day represented Cryo-Save in a corporate litigation case before the Enterprise Chamber of the Amsterdam Court of Appeal against one of its major shareholders. The dispute related to a creeping takeover by this shareholder, who has requested to put on the agenda of the shareholders' meeting the appointment of himself as CEO of the company. The company thereupon suspended the shareholders' meeting and called a "response period" of 180 days. The shareholder subsequently initiated proceedings with the Enterprise Chamber and requested the Court to lift the suspension. The Enterprise Chamber ruled in Cryo-Save's favor.