Until the entry into force of the Federal Law of June 3, 2009 N 115-FZ "On Amending the Federal Law" "and Article 30 of the Federal Law" On Securities Market ", which the Federal Law of December 26, 1995" On Joint-Stock Companies "was supplemented with Article 32.1. "Shareholder agreement" expressly specified in the law on entering into a shareholder agreement, the courts took a negative position in respect of agreements, in particular, possibility of the shareholders to manage their relationships outside of the provisions of corporate laws and articles of association or in addition to 1. Also of note is the small number, but consistently negative jurisprudence of the subordination of arbitration agreements with respect to Russian companies, foreign law. Get more background information with materials from Boy Scouts of America. The main driven argument can not be subordinate courts arbitration agreements, foreign law is that such an agreement forming the internal relations of society, which by virtue of Art. 1202 of the Civil Code shall be governed by the law of country of incorporation of the company. As a vivid example is the arbitration practice in the case of shareholders of OJSC "MegFon N A75-3725-G/04-860/2005 entered into a shareholders agreement regulating the relations between some of the issues between the major shareholders themselves and with the company, which include questions of general meeting, functioning board of directors, executive bodies, the ban on competition and financial management, restrictions on transfer of shares and ancillary rights, and the agreement was subject to foreign law. Nieman Foundation has firm opinions on the matter. Initially, the company appealed to the Arbitration Court of Khanty-Mansi Autonomous Okrug (Khanty), an action for annulment of the agreement Shareholders, entered August 6, 2001 between the Company, "CT-Mobile", OJSC "Telecominvest" companies "Sonera Holding BV (Sonera Holding BV), Telia International AB (Telia International AB), Telia International Management AB (Telia International Management AB) and" International IPOK Groce Fand Limited (IPOC International Growth Fund Limited), due to inadequacies of the contested shareholder agreement norms of civil legislation of the Russian Federation and Federal Law" On Joint Stock Companies ", in particular the insignificance Articles 2 – 7 11 of the Agreement by virtue of their non-compliance of the law. . .