Court approves amicable agreement in Rusal - Norilsk Nickel dispute
MOSCOW, May 14 (RAPSI) - The Federal Commercial Court of the East Siberian District has endorsed an amicable agreement between Norilsk Nickel and its shareholder Rusal Investment Management, the court spokesperson told RAPSI on Tuesday.
The dispute concerned the disclosure of information and the provision of documents regarding Norilsk Nickel's operations.
According to the agreement reached, Norilsk Nickel agreed to supply Rusal with the requested documents for 2009 and the first half of 2010 within 20 working days: the purchase ledger, the turnover balance sheet with all bookkeeping accounts and subaccounts, and the business transactions journal containing records of goods purchases.
On June 4, 2012, the Krasnoyarsk Territorial Commercial Court upheld Rusal's claim in part and ordered Norilsk Nickel to provide some documents.
At the same time, the court denied the plaintiff's request for tax audit records for 2009 and 2010, financial reports for 2008 and 2009 and the first half of 2010, and the 2009 audit results under Russian Accounting Standards.
The lawsuit is being considered for the second time.
Norilsk Nickel is the world's largest nickel producer (18 percent of worldwide output) and palladium producer (nearly 50 percent of worldwide output). It is also a leading platinum producer (around 13 percent of worldwide output) and copper producer (2.5 percent of worldwide output). The company also produces cobalt, chrome, rhodium, silver, iridium, ruthenium, selenium, tellurium and sulfur.