Pre-emptive right of shares acquisition as a means of ensuring shareholders’ rights to participation in JSC management

The article analyzes the institution of pre-emption of shares and other equity securities as an important legal mechanism to ensure the interests of shareholders. The author analyzes the current state of the institution and the existing problems in its legal regulation. Particular attention is paid to the analysis of judicial practice, because it allows to overcome the gaps in the legislation. At the same time, the author notes that the current judicial practice is based mainly on the well-established positions abolished the SAC, which makes it possible to review them in the near future. The last reform of the civil law has made a point adjustment, without touching the many fundamental issues, such as, for example, the possibility of the existence of fractional shares or redemption of the preferred shares issued for the first time.