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Moscow, 4 December 2012 UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR/RUALRS), the worlds largest aluminium producer, and Interros company, MMC Norilsk Nickel’s largest shareholder, have reached a principal agreement aimed to settle the shareholders conflict and envisaging conclusion of an agreement between Interros, UC RUSAL and Millhouse. The agreement is aimed at integrating the efforts of all parties to maximize profitability and shareholders’ value, as well as delivering improvements to the existing corporate governance structures.
More Topics Norilsk Nickel
At the MMC Norilsk Nickel AGM held on 29 June four Interros representatives were elected to the companys Board of Directors: Sergey Barbashev, Andrei Bougrov, Marianna Zakharova, Larisa Zelkova.Interros voted for its representatives and supported the candidatures of three non-executive directors, who fitted the ISS/Risk metrics: Bradford Mills, Banda Enos Ned and Prinsloo Cornelis Johannes Gerhardus. Andrei Bougrov was reelected Chairman at the first meeting of the Board of Directors.Interros is satisfied with the MMC Norilsk Nickel performance. It sees the new Board of Directors as balanced and hopes to see its efficient work to develop the company.
More Topics Norilsk Nickel
Swiss Federal Prosecutor’s Office ordered it will not proceed to investigate Mr Deripaska additional complaints against Mr Potanin, Interros and Norilsk Nickel. The above Order of the Swiss Federal Prosecutor’s Office was issued several weeks after Swiss Federal Criminal Appeal Court confirmed another order of the Federal Prosecutor not to proceed with criminal investigation of Mr Deripaska complaint against Mr Potanin, his Interros and Norilsk Nickel. Swiss legal system considered grounds of the complaints and ruled they were unsustainable. Having reviewed all complaints of Mr Deripaska Swiss Federal Prosecutor did not find enough evidence to start investigation. Interros supports orders and decision of Swiss Federal Prosecutor Office and Swiss Federal Criminal appeal Court issued despite severe defamatory campaign in media. During past several years Mr Deripaska and his Rusal filed about 20 claims in various courts in different jurisdictions against Mr Potanin, his Interros and Norilsk Nickel. Almost in all cases the claims were either dismissed or refused to be taken into trial. UK and Nevis courts went further and ruled that Rusal claims were «abuse of process».
More Topics Norilsk Nickel
The Appelate chamber of Swiss Federal Criminal Court confirmed decision of Swiss Federal Prosecutor Office not to start investigation pursuant to the criminal complaint filed by Mr Oleg Deripaska against Mr Potanin, his Interros and Norilsk Nickel. Swiss legal system looked into claimant arguments and considered them unsustainable. Interros welcomes this decision. For the past several years Mr Deripaska and his RusAl filed approximately 20 claims in various forums against Interros and Norilsk Nickel. In almost all cases the claims were not supported or taken into examination. Some foreign courts even ruled that RusAl claims were abuse of legal process. Interros believes that Swiss Federal Criminal Court decision demonstrates once again that RusAl claims are baseless despite of unprecedented PR campaign which may have been seen as an attempt to affect Swiss legal system.
More Topics Norilsk Nickel
This is not the first time that Mr. Deripaska tries to discredit Vladimir Potanin, Interros company and Norilsk Nickel in courts of various jurisdictions. Every businessman is free to choose his own style of conducting business even up to a corporate blackmail and builds himself a reputation. We do regret that such businessmen put their own ambitions higher than reputation of Russian business and Russian Federation.
More Topics Norilsk Nickel