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Court accepts Baturina brother's claims to preemptive right in Inteco sale

16:25 19/10/2011

MOSCOW, October 19 - RAPSI, Sergei Feklyunin. A commercial court has registered a lawsuit filed by Viktor Baturin, the brother of the wife of the former Moscow mayor and the owner of the Inteco development company, to enforce his preemptive right in the company's sale, the court told the Russian Legal Information Agency (RAPSI).

Inteco is a diversified company and Russia's development market leader.

Victor BaturinVictor Baturin

The lawsuit was lodged on October 18 and its hearing date has yet to be scheduled.

One of Inteco's founders, Baturin earlier requested the Moscow Commercial Court to invalidate the company's sale to Binbank owner Mikhail Shishkanov and Sberbank Investments and to restore the shareholders' register entry about his ownership of a 25-percent interest.

In February 2007, he and his sister entered into a settlement agreement whereby he owned 25 percent in the company and his sister undertook not to dispose of Inteco shares without his consent, Baturin said in his statement of claim.

In Baturin's view, by selling the 100-percent stake in Inteco, he said, his sister also disposed of his shares, which she did not own. For this reason, he wants the transaction declared null and void.

RAPSI has not yet reached Inteco or Baturina for comments.

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Court accepts Baturina brother's claims to preemptive right in Inteco sale

16:25 19/10/2011 A commercial court has registered a lawsuit filed by Viktor Baturin, the brother of the wife of the former Moscow mayor and the owner of the Inteco development company, to enforce his preemptive right in the company's sale.
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