Monday, October 4, 2010

Russian Tycoon May Sue Ireland

Millhouse Capital Ltd, a private investment company controlled by Russian tycoon Roman Abramovich and his business partners, demanded that the Irish government keep its promise to guarantee repayment of the subordinated bonds of the Irish Nationwide Building Society (INBS). Earlier, a Irish government spokesman said that subordinated bond holders are expected “to make a significant contribution towards meeting the costs of INBS.” Millhouse believes that the investors “have been misled and deceived” and says that it is “fully prepared to vigorously defend our position using all possible legal avenues.”

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