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Businessman appeals denial of preemption right to buy Inteco

10:54 01/02/2012

MOSCOW, February 1 - RAPSI. Notorious businessman Viktor Baturin appealed dismissal of his lawsuit against the Inteco development company and its former owner Yelena Baturina, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Wednesday.

Victor BaturinVictor Baturin

In his lawsuit Baturin claimed the preemption right to purchase Inteco.

Inteco reported in early September that it agreed with BinBank's owner Mikhail Shishkhanov and Sberbank Investments on the company sale.

Baturin earlier told RAPSI/rapsinews.com that he has the legal preemption right to purchase Inteco as he owns a 25-percent stake in the company. He also said he is ready to purchase Inteco shares.

Meanwhile, Inteco's lawyer denied the lawsuit, saying that Baturin was not entitled to challenge Inteco's sale as he had no longer been the company's shareholder by the time he filed a lawsuit.

Baturin then explained that he shared the company with his sister Yelena Baturina on an equal basis as was indicated in the February 14, 2000, shares issuance report.

However later he had to grant a 25-percent stake in Inteco to his wife under the marriage settlement terms.

Baturin also noted that in February 2007, he and his sister entered into a settlement agreement whereby he owned 25 percent in the company and his sister committed not to dispose of Inteco shares without his consent.

Viktor Baturin is the elder brother of Yelena Baturina - Russia's richest woman and the wife former Moscow Mayor Yuri Luzhkov. Forbes ranked her in 2010 the worlds third richest woman with a $2.9 billion fortune. Viktor and Yelena are the co-founders of the Inteco investment and construction corporation. Inteco is a diversified company and a major developer at the Russian market.

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Businessman appeals denial of preemption right to buy Inteco

10:54 01/02/2012 Notorious businessman Viktor Baturin appealed dismissal of his lawsuit against the Inteco development company and its former owner Yelena Baturina. In his lawsuit Baturin claimed the preemption right to purchase Inteco.
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