The Arbitration Court of the Amur Region arrested a 9.99% stake in Vostochny Bank, which is owned by Evison Holdings of Cyprus (controlled by the Baring Vostok and Russia Partners funds), Interfax reported.
The court accepted this decision at the request of the company Artyom Avetisyan Finvizh Holding. She wants Evison to execute a call option and sell her a 9.99% stake in the bank.
Finvizhn owns 32.02% of the bank, Evison - 51.62%.
In addition to the arrest of the controversial package, “Finvizhn” asked the court to also prohibit Vostochniy from conducting an additional issue of 5 billion rubles. “The court seized the shares, but denied the request of the company“ Fynvizhn ”to block the additional issue, that is, it could take place,” said the representative of Evison in the court Dmitry Savochkin. The additional issue was scheduled for April, two weeks ago the board of directors of the bank postponed it for three months.
The court considered the case in closed session: information that relates to a trade secret could be announced at the meeting.
Evison is not satisfied with the decision of the court and intends to appeal against it, said its representative. Vedomosti sent a request to Finvizhn and Artem Avetisyan.
“Finvizhn” decided to continue the proceedings on a call option in Russia, despite the fact that she was forbidden to do by the London International Court of Arbitration (LCIA). On March 23, he demanded that “Finvizhn” stop the proceedings in Russia, and from Evison - not to sell and not to conclude transactions with a controversial package.
At the same time, the LCIA allowed Evison to appeal to the English court if “Finvizhn” violated the prohibition to continue legal proceedings in Russia.
Evison exercised this right. In the Amur arbitration, Baring Vostok presented the ruling of the state court in England and Wales on March 29, a spokesman for the investment fund said: this court also demanded that the proceedings in Russia be stopped, and threatened the criminal responsibility of Finvizhn, its director and others who knew about the court ruling.
“The court’s decision also clearly states that this document does not pursue the goal of prohibiting or influencing any actions or omissions committed by the Russian court or on its behalf,” the representative of Baring Vostok added.