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
- Tourist Boats Set to Resume Service on Astana’s Yesil River
- U.S. Embassy in Astana to Auction Cars, Furniture and Medical Equipment
- Promising New Oil Discovery Announced at Kashagan
- Prices for Basic Food Products Keep Rising in Kazakhstan as Regional Gaps Widen
- Kazakhstan Plans Unified Register for Military Draft Notices
- Village in Kyzylorda Region Flooded After Heavy Rainfall
- Europe’s New Sanctions Against Russia Again Affect Kazakhstan
- International Development Banks to Invest Billions of Dollars in Kazakhstan
- Heavy Smoke in Almaty Metro Caught on Video
- Tokayev Discusses Expansion of Partnership With Oman’s Deputy Prime Minister
- Video Shows Construction Waste Dumped Near Reservoir in Kazakhstan
- Suspect in Theft of $230,000 From Employer Extradited From Greece to Kazakhstan
- Steppe Near Aktau Cleared After Landfill Complaints, but People Doubt the Problem Is Solved
- Why Markets Are Closing in Kazakhstan, According to the Ministry
- Kazakh Scientists Seek 10 Billion Tenge for Rare Metal Processing Research
- Georgia Becomes New Market for Kazakhstan’s Pork Exports
- Young Kazakhstanis Are Moving Into Trade and Working Overtime
- Russia Promises New Route for Kazakh Oil to Europe After Druzhba Halt
- National Fund Assets Reach $64.6 Billion as Kazakhstan Cuts Withdrawals
- Deputy Complains About Growing Rudeness and Aggression in Kazakh Society
