Companies disrupting the state defense order will be able to introduce external management
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In the event that martial law is declared in Russia, companies that disrupt the state defense order will be subject to external management, and the rights of shareholders will be suspended. This follows from decree Russian President Vladimir Putin.
“Establish that in case of violation by economic companies that are the main executors of the supply of products … under the state defense order … of their obligations under the state contract … until the abolition of martial law: the rights of participants (shareholders) of such a business company and powers are suspended its governing bodies,” the document says.
In the event of a failure by the enterprise of the state defense order, a managing organization will be determined on the basis of proposals from the Ministry of Industry and Trade, which will exercise the powers of the sole executive body of this economic company, as well as the general meeting of shareholders and the board of directors, to the extent necessary to fulfill the state defense order.
By the same decree, the government was instructed to form a working group under the board of the Military-Industrial Commission of the Russian Federation on the activities of enterprises engaged in the implementation of state defense orders during the period of martial law.
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