Wednesday, August 11, 2010

Russian Tycoons Clash in London Tribunal

Russian aluminum giant Rusal, controlled by Oleg Deripaska, filed a claim against private investment company Interros, controlled by Vladimir Potanin, with the London Court of International Arbitration. Rusal accuses Interros of breaching the shareholders agreement of major mining company Norilsk Nickel, in which each party holds a 25% stake. Rusal claims that at the recent general meeting, Interros took control over the board of directors, but under the shareholder agreement, the parties should be represented equally.

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