The court’s decision can be challeged in the court of appeals.
Ioana Sfiraiala, a shareholder within the Proprietatea fund, challenged in October 2010 some of the decisions reached in the shareholder meeting setting up Franklin Templeton to become manager.
The decision issued by the court on December 21 this year brings the fund back to its previous statute, with Ionut Popescu as manager, people close to the matter told MEDIAFAX.
The challenge filed by Sfiraiala was based on the fact that the draft amendment to the statute was not published within the legal timeframe of at least 30 days before the shareholder meeting.
The Proprietatea fund is an open-end investment structure created to compensate owners whose property cannot be returned in kind after being abusively seized by the communist regime.