Russian company Rosgaz is demanding that the decision of the International Commercial Arbitration Court at the Russian Chamber of Commerce and Industry (ICAC) which invalidated the sale of Hungaria's major gas trader Emfesz be nullified. The Moscow Commercial Court is set to hear the Rosgaz suit against Cyprus’ Mabofi Holdings Limited on September 18. According to the plaintiff, ICAC decision was rendered with procedural violations. The sale of Emfesz to Switzerland’s Rosgas A.G. for a symbolic price of $1 was completed in 2009. On March 15, ICAC found that the sale of the trader’s shares was illegal.
http://www.rapsinews.com/judicial_news/20120807/264145825.html
http://www.rapsinews.com/judicial_news/20120807/264145825.html
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