THE TWO SIDES WILL FIGHT IT OUT IN COURT The court, the final solution for the conflict at SIF Muntenia

• A lawsuit requesting the suspension of the election of the new Council of the Shareholders' Representatives

• The registration of the decisions of the General Shareholder Meeting of SIF Muntenia held in spring, temporarily suspended

SIF Muntenia was sued yesterday by seventeen people, who are asking for the invalidation of the decisions made at the General Shareholder Meeting of July, namely the dismissal of the Council of the Shareholders' Representatives and the election of a new one, according to a press release sent to the Bucharest Stock Exchange.

The hearing is set to take place on September 17th.

Going to court seems like the only way to deal with the conflict between the new representatives of the shareholders, who were elected in the extremely lengthy General Shareholder Meeting of July 7th, and the company which manages SIF Muntenia (SAI Muntenia), which have been warring since spring.

The first battle between the group of "rebellious" shareholders rallied around Gheorghe Iaciu, on one hand, and SAI Muntenia on the other, occurred during the General Shareholder Meeting of April 12th. At the time, some of the shareholders asked for bigger dividends and took the management to task over the company's financial statements.

• Andrici was awarded the temporary suspension of the registration of the decision of the General Shareholder Meeting which was held in spring

It has been five months since the General Shareholder Meeting of SIF4, and the decisions made on April 12th can't be recorded at the Trade Registry, due to a ruling rendered on Wednesday by the Court of Appeal.

Even though, on July 13th, the Court of Bucharest approved the request of SIF Muntenia to register the decisions of the General Shareholder Meeting, the Court of Appeal ruled the temporary suspension of the decision of the court, until a ruling on the appeal is rendered.

Thus, the lawsuit filed against the new Board of Representatives of Shareholders, which was announced yesterday, looks like a response of the supporters of the management company, to the ruling of the Court of Appeal rendered on September 12th.

On April 26th, Adrian Andrici, in his position of shareholder, has announced that he has filed a request for intervention in his own interest against the request for the decisions of the Ordinary General Shareholder Meeting held on April 12th, 2012, to be registered with the Trade Registry of Bucharest, made on April 12th, 2012.

Later, the requests for intervention of Ştefan Gioga, Lucian Mihalache and Andrei Ovidiu Iancu were also added to the case.

In the beginning of the July, the "revolutionary" shareholders have managed to get a new Council of the Representatives of Shareholders (CRA) elected, which recently summoned a General Shareholder Meeting which would be called to decide on the proposal to terminate the management contract concluded by SIF4 with SAI Muntenia.

The requested General Shareholder Meeting has not been held yet, but the opposing factions- the new Council of the Representatives of Shareholders and the Management of SAI Muntenia - have started a verbal war, accusing each other of exceeding their respective prerogatives.