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Court to hear founder's claim over sale of Inteco on December 30

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15:14 11/11/2011

MOSCOW, November 11 - RAPSI, Alyona Yegorova. A commercial court will start hearing on December 23 the lawsuit by Viktor Baturin, founder of the Inteco development company, to invalidate its sale to Mikail Shishkhanov, major bank's president, and Sberbank Investitsii, the court told the Russian Legal Information Agency (RAPSI) on Friday.

Inteco is a diversified company and Russia's development market leader. Viktor Baturin co-established the company. It is owned by Russia's richest woman and wife of former Moscow Mayor Yelena Baturina.

Yelena Baturina Yelena Baturina

Binbank is a top-30 Russian bank. Shishkhanov holds 97.079 percent of Binbank's charter capital. According to Forbes, the 39-year-old businessman is one of Russia's 200 richest businessmen.

Sberbank Investitsii is a 100-percent subsidiary of Sberbank. It was established in 2010 to manage assets, which are attractive in terms of investments.
Baturin requested the sale of 100 percent of Inteco's shares to be rendered illegal. He also seeks to restore a shareholders' register entry of his ownership regarding 25 percent of shares.

The court denied to Baturin the arrest of Inteco's 25-percent stake. Baturin also requested to prohibit Yelena Baturina from performing any transactions with the shares, the agency's interlocutor said.

In his statement of claim Baturin explained that under the shares issuance report dated February 14, 2000 his stake in the company was 50 percent, the same as that of his sister's.

In February 2007 Yelena Baturina and the plaintiff concluded an amicable agreement, pursuant to which Viktor would own 25 percent of shares. Additionally, Baturina undertook not to dispose of Inteco shares without her brother's consent, the statement reads.

"The transaction is null and void because my sister disposed of the property that does not belong to her," he told RAPSI.

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Court to hear founder's claim over sale of Inteco on December 30

15:14 11/11/2011 A commercial court will start hearing on December 23 the lawsuit by Viktor Baturin, founder of the Inteco development company, to invalidate its sale to Mikail Shishkhanov, major bank's president, and Sberbank Investitsii.
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