воскресенье, 18 декабря 2011 г.

Baturin’s claims for Inteco purchase rejected


The Arbitration Court of Moscow City has rejected Viktor Baturin’s suit against Elena Baturina and Inteco Closed JSC.

Mr Baturin claimed he had the right to purchase the company. On 7 December BINGroup co-owner Mikhail Shishkhanov bought 100% of shares of Inteco Closed JSC, Patriot Closed JSC and all sub-companies, operated by Inteco. Shishkhanov bought 95% of shares. Sberbank Investments acquired the remaining 5%. The price the purchasers paid for Baturina’s assets is not revealed. However it might have been lower compared to the initial price tag of $1.2 billion, taking into consideration an enormous debt Mrs Baturina had to pay.

Mr Baturin claimed that he owned 25% of shares of Inteco, which gave him the preference to buy the company in the first place. The plaintiff proved that Mr Baturin acquired only 1% of the shares from Baturina on 28 May 2002, but then he conceded the shares on 20 March 2006 and later on Baturina retrieved them. The court established that Mr Baturin’s evidence was false.

On 23 December the same court hears one more suit filed by Mr Baturin who claims the deal to sell Inteco was illegal.

RIA Novosti

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