Appeals court dismisses $52 mln lawsuit against RUSAL, Oleg Deripaska
MOSCOW, May 6 (RAPSI, Sergei Feklyunin) - An appeals court in the city of Krasnoyarsk upheld on Monday a judgment dismissing the lawsuit filed by SUAL Partners Ltd., owned by billionaire Viktor Vekselberg, against aluminum giant RUSAL Global Management B.V. and Oleg Deripaska in his personal capacity, the court spokesperson told RAPSI.
The plaintiff is now looking to require the co-defendants to compensate the losses inflicted by the Temporary Operation Department, which operates the bridge over the Abakan River via which raw materials are supplied to RUSAL's Sayanogorsk Aluminum Plant.
The bridge collapsed in May 2011. The Sibmost Bridge Construction Company reported in April 2012 that it had been reconstructed.
The plaintiff claims that the defendants' inactivity in recovering the losses and the insurance compensation inflicted further losses.
A commercial court in the Republic of Khakassia dismissed the lawsuit last February.
SUAL Partners also seek payment from the Ingosstrakh and the Alliance insurance companies in the amount of 1.773 billion rubles ($57.11 million).
SUAL Partners, owned by Viktor Vekselberg and Leonard Blovatnik, holds a 15.8% stake in RUSAL, the world's leading aluminum producer. It accounts for roughly 10 percent of the world's aluminum production and 10 percent of the world's alum earth production. Rusal has production assets in 19 countries and sells its products in Europe, North America and Southeas Asia.
Ingosstrakh is a leading insurance company operating on international and domestic markets since 1947. It has offices in 220 Russian cities and towns, as well as subsidiaries and representative offices abroad.
The Alliance construction company was established in 1991. Allianz New Europe Holding GMBH, a subsidiary of the leading Allianz SE insurer in Central and Eastern Europe, holds the controlling stake (100 percent minus one share) in the company.