Challenging Large Transactions and Transactions in Which There Is an Interest (An Analysis of Judicial Practice)

The article analyzes the latest changes in legislation and judicial practice of arbitration courts on invalidation of extraordinary transactions. The reform of the legislation on extraordinary transactions is aimed at eliminating the single concept of invalidity for large transactions and related-party transactions: large transactions require the approval of members of the board of directors or the general meeting of participants (shareholders), and interested-party transactions, as a general rule, do not require approval, except in cases where the persons named in the law insist on approval. The results of the corporate law reform are summarized on the basis of the approaches formed by the highest court to the application of norms in disputes on invalidation of extraordinary transactions.