Shareholders' Meeting To Consider Tv Winding Up Order

Tatyana Blinova, press secretary to the TV-6 television company, has announced that an extraordinary shareholders' meeting will be held on January 14th to consider the implementation of a court ruling on the winding up of the Moscow Independent Broadcasting Corporation joint-stock company, which includes TV-6. According to her, the meeting will try to resolve the issue of the appointment of a liquidation commission and the timeframe for winding up the television company. "We received the court ruling on the liquidation of the television company back on November 26th last year and as law-abiding citizens we shall fulfil the court's ruling and set up a liquidation commission," Blinova said. Moreover, she reported that the meeting's agenda would also include a point on an early dissolution of the TV-6 Board of Directors and an auditing commission for the television company. On Friday, the Presidium of the Higher Arbitration Court of Russia confirmed an earlier ruling to wind up TV-6. The higher judicial instance approved an appeal made by deputy chairman of the court and refused to overturn a ruling made by the Moscow arbitration court on September 27th last year. The Moscow court ruled that the broadcasting company should be wound up after a shareholder, the LUKOIL-Garant non-state pension fund, filed a suit. The ruling was made in connection with the fact that the company's shares were lower than the legal minimum for authorised capital for the period of 1998-2000. This verdict was confirmed on appeal, which gave the television company 6 months to conduct the winding up procedures.