Court Dismisses Ilmarinen Claims against Finnlines

The Supreme Court of Finland has today upheld the judgment rendered by the Helsinki Court of Appeal on 29 November 2011 and dismissed all claims presented against Finnish shipping company Finnlines Plc by Mutual Pension Insurance Company Ilmarinen.

In its action Ilmarinen had objected to the decision of Finnlines’ Annual General Meeting held on 20 May 2008 concerning minimum dividend and demanded that the resolution be amended so that the minimum dividend paid should have been EUR 17.1 million instead of EUR 180,216.39.

The Supreme Court dismissed Ilmarinen’s petition on the Court of Appeal’s ruling and maintained said ruling in force. In addition, the court ordered Ilmarinen to compensate Finnlines’ legal costs amounting to EUR 28,734.75 together with interest at statutory rate.

The judgment is final and non-appealable, Finnlines said.

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