Founder of Baring Vostok, Michael Calvi, just a few days before his arrest, flew to Moscow to personally meet with Vostochny Bank shareholders Artem Avetisyan and Sherzod Yusupov, The Wall Street Journal reported. The meeting was scheduled for February 14, and the case against Calvi was filed a day before.
Investment fund candidates were included on the board of directors of the bank against their will.
Baring Vostok considered it senseless to try a new board of directors and a meeting of shareholders.
Baring Vostok Fund wants to oblige Vostochny Bank to hold an extraordinary meeting of shareholders and elect a new board of directors.
She wants Baring Vostok to exercise a call option for 10% of Vostochny Bank shares.
The initial investor paid 4.4 million dollars for the IFTG shares that caused the arrest of Michael Calvey. The investigation estimated them at 600 thousand rubles. One of the methods gives such a figure, but startups do not appreciate it, experts say.