Court Declares ZIKSTO Reorganization and Share Transfers Invalid
Photo: Midjorney, ill. purposes
A court in the North Kazakhstan region has annulled a series of transactions and corporate decisions related to the reorganization of the former ZIKSTO JSC, a major railcar manufacturer, Orda.kz reports.
The lawsuit targeted ZIKSTO LLP, PremiumVagonKomplekt LLP, and Aigul Myrzakhanova over alleged violations during the company’s transformation into a limited liability partnership. Former shareholders argued they were not informed of key meetings, effectively excluded from decision-making, and denied the opportunity to repurchase their shares.
The court ruled that both the share transfers and the company’s reorganization were unlawful. The decision has not yet entered into legal force.
Earlier, Orda.kz reported that former ZIKSTO employees — who had received shares during privatization in 1996 —discovered they were no longer listed as shareholders. The shares had been bought out at just 16 tenge each, and the enterprise was eventually acquired by PremiumVagonKomplekt LLP for just over 91 million tenge.
Original Author: Artyom Volkov
Latest news
- Kazakhstan to Test Chinese Algae Technology for Land Restoration
- New Foreign Directors Join Kazakhstan’s State Investment Holding Baiterek
- Almaty–Kaskelen Highway to Be Widened Following Complaints to President
- Ambulance Calls Rise as Extreme Heat Hits Almaty
- Kazakhstan Keeps Public Hookah Ban After Legalization Debate
- Why China Is Building More Factories in Kazakhstan
- Kazakhstan’s Budget Falls Hundreds of Billions Short of Tax Plan
- Rare Lynx Appears in Unexpected Part of Ile-Alatau National Park
- Police Link Istanbul Killing of Kazakhstani Citizen to International Crime Group
- Soyuz MS-29 Reaches ISS After Successful Baikonur Launch
- What It Costs Parties to Field Candidates in Kazakhstan’s Kurultai Election
- German Refinery Turns to South America After Losing Kazakh Oil
- Kazakhstan and Russia to Restrict Airspace for Baikonur Launch
- Kazakhstan Tightens Checks on Imported Fruit and Vegetables
- Rainmaking Technology Is Being Tested in Southern Kazakhstan
- Heat and Drought Have Not Harmed Kazakhstan’s Crops, Agriculture Ministry Says
- Russia’s Diesel Export Ban Will Not Raise Prices for Kazakh Farmers
- Kazakhstan Has Introduced “Digital Condominiums” — Here’s What They Are
- Kazakhstan’s Prime Minister Warns Samruk-Energo Chief Over Delays at Almaty CHPP-3
- Kazakhstan’s National Fund Grows to $65 Billion
