Recognition of the right to property share of RUB 15,000,000

R-N LLC acquired a property share in SPK ‘K’ (Agricultural Production Cooperative) from the bankrupt agricultural cooperative ‘P.I.’. After that, ‘P.I.’ was liquidated, and a request was sent to ‘K’ to recognize ‘R-N’ as a new shareholder instead of ‘P.I.’. However, ‘K’ refused to do so as membership in a cooperative with the right to receive dividends is only possible to the consent of the general meeting, and declared nullity of the transaction made by ‘R-N’. The arbitrator proved the refusal illegality on the grounds of the valid legislation, and ‘R-N’ LLC was recognized an associate member of SPK ‘K’ with a share of RUB 15,000,000.