Based on an announcement by Rolandos Enterprises at the CSE, the Nicosia District Court on June 2 rejected the application of Frou Frou Investments and its major shareholder Alki Hatzikyriakou, requesting a decree appointing inspectors in relation to the company's financial statements and management.
The court, according to the announcement, rejected the allegations of Frou Frou and Mr. Hatzikyriakos about mismanagement and waste on the part of Rolandos and ordered the company to pay all the costs.
Rolandos emphasizes that they were justified in refuting these allegations as malicious and false and believes that this decision will involve other legal proceedings against her before the Nicosia District Court.
Alkis Hadjikyriakos and Frou-Frou Investments, in their capacity as minority shareholders of the public company Rolandos Enterprises, had filed a lawsuit in the Nicosia District Court against Rolandos Enterprises, and Rolandos Loizou, Joe Lois and Joe Lois.
The lawsuit claimed, inter alia, compensation totaling € 12,208,900 plus legal interest and expenses with which the Rolandos Enteprises company reported and was charged during the period 2015-2019, as a result or due to, among other things, negligence or omissions. or the fraud or false representations or the deceit of the defendant members of the Board of Directors against the company.