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NLMK appeals dismissal of $19 mln suit against Maxi-group ex-managers

18:10 15/11/2011

MOSCOW, November 15 - RAPSI, Alyona Yegorova. A commercial court has registered cassation appeals against the dismissal of an iron and steel works' lawsuit to recover $19 million from former Maxi-Group top managers, the court told the Russian Legal Information Agency (RAPSI).

MAXI-Group head Nikolai MaximovMAXI-Group head Nikolai Maximov

The Moscow Commercial Court held against the Novolipetsk Iron and Steel Works' (NLMK) lawsuit against Nikolai Maximov and Alexander Loginovskikh on May 23. An appeals court supported the judgment, which then entered into force in September.

NLMK and Maxi-Group, as the third party in the case, filed cassation appeals.

NLMK maintained that its lawsuit stemmed from a contract between Maxi-Group and Alfa Bank, in which the bank agreed to provide equity sale consultation services personally to then-company president Maximov.

The defendants contested the argument, maintaining that the services were rendered to Maximov in his capacity as Maxi-Group president and caused no losses to the company.

In addition, the defendants argued that on the date of Alfa Bank's contract, NLMK was not a Maxi-Group shareholder, and therefore their lawsuit was groundless.

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NLMK appeals dismissal of $19 mln suit against Maxi-group ex-managers

18:10 15/11/2011 A commercial court has registered cassation appeals against the dismissal of an iron and steel works' lawsuit to recover $19 million from former Maxi-Group top managers.
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