Friday, July 24, 2009

Gazprom Loses a Golden Parachute Case

Russian natural gas monopoly Gazprom lost a high-profile case related to the payment of “golden parachute” compensations to managers of its subsidiary, OGK-2, in the total amount of about 450 mln rubles ($13 mln). The managers left, and received contractual “golden parachute” compensation, after Gazprom had acquired control in the company. Gazprom sued company’s CEO arguing he had exceeded his authority when signing the contracts with the “golden parachute” clause. The court disagreed.

http://www.kommersant.ru/doc-y.aspx?DocsID=1209199

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