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Commercial Litigation Weekly Calendar (February 6 - 10)

10:25 06/02/2012

February 6

TAX LAW

VimpelCom vs Federal Tax Service

Moscow Commercial Court

VimpelCom is contesting a supplementary tax charge amounting to 939.836 million rubles ($30 million).

The decision was made by the tax inspectorate following the company's on-site tax audit for 2007- 2008.

VimpelCom is one of Russia's top three multi-service telecommunications operators. Its sole shareholder is VimpelCom Ltd. headquartered in Amsterdam, the Netherlands.

CIVIL LAW

Novolipetsk Iron and Steel Works (NLMK) vs former Maxi-Group top managers

Moscow District Federal Commercial Court

NLMK maintained that its lawsuit stemmed from a contract between Maxi-Group and Alfa Bank, in which the bank agreed to provide equity sale consultation services personally to Maximov, then the Maxi-Group's president.

NLMK argued in court that Alexander Loginovskikh and Nikolai Maximov paid for the consultation services with Maxi-Group's funds, as they were entitled to dispose of the company's assets. The consultation services were provided directly to Maximov.

According to NLMK, the consultation services resulted in a loss to Maxi-Group. It seeks to recover 582,721 million rubles ($18.5 million).

NLMK is one of the largest steel producers in the world. The company produced 11.5 million tons of steel and earned $8.4 billion in 2010.

NLMK acquired a 50-percent plus one share stake in Maxi-Group from Maximov in December 2007. Maxi-Group Maxi-Group, a major steel products manufacturer in Russia, was declared bankrupt in 2011.

February 7

CIVIL LAW

State Property Management Agency vs Inteco subsidiary

Moscow District Federal Commercial Court

The State Property Management Agency believes that Setunskaya's 16.4 hectare land plot is partially located within an area reserved by a 1993 presidential decree. This area was set aside for the construction of diplomatic missions. But the watchdog refused to retrieve the land plot from Setunskaya.
TD Setunskaya is a subsidiary of Inteco, Russia's major real estate company allegedly suspected f dominance on Moscow real estate market. Inteco is owned by Russia's richest woman and wife of former Moscow mayor Yelena Baturina.

BANKRUPTCY

Creditors vs Innogarant insurance company

Moscow Commercial Court

A number of Innogarant creditors seek the company to be declared bankrupt.

The Federal Financial Markets Service revoked in May 2011 the license from the insurer since it failed to eliminate the insurance legislation violations on time.

Innogarant has been operating since 2000. Its charter capital amounts to 1.65 billion rubles ($54.4 million).

Innogarant was liable for Capital Tours' obligations in case of the company's failure to meet its contractual obligations under tour contracts.

February 8

CONTRACTUAL OBLIGATIONS

Ametech vs Rosoboronexport

Moscow Commercial Court

The Ametech artillery weapons systems manufacturer seeks to recover $89.5million (2.588 billion rubles) from Russian Defense Export (Rosoboronexport). Ametech claims 1.63 billion rubles in lost profit. It also seeks to fine Rosoboronexport for "counterproductive financing" which causes a six year delay in order completion.

Amatech manufactures artillery weapons systems with laser guidance.

Rosoboronexport is a leading arms company. It is the only state intermediary in Russia for the export and import of arms products, technology and military and dual-purpose services.

CIVIL LAW

Central Bank vs Severnaya Verf (Northern Shipyard) shipbuilding plant's shareholders

Moscow Commercial Court

Central Bank has filed a lawsuit against the Severnaya Verf (Northern Shipyard) shipbuilding plant's shareholders, whose shares were pledged under loans totaling 32 billion ruble ($1 billion) to the now insolvent Mezhprombank.

The court ordered earlier an expert appraisal of the pledged shares. Deloitte & Touche CIS was appointed by the court to conduct the appraisal.

Severnaya Verf is part of former Senator Sergei Pugachyov's United Industrial Corporation (UIC).

February 9

DEVELOPMENT

Development company vs Finance Ministry

Moscow Commercial Court

Sredniye Torgovye Ryady (The Middle Shopping Mall) company seeks to fully recover the expenses for the renovation project on Moscow's Red Square.

The renovation project was designed in 2000. However, the building, which was subject to renovation, was granted to the Federal Protective Service in 2010. The previous owner of the building considered the contract to be terminated as it was no longer able to fulfill the project.

The development company initially claimed 3.6 billion rubles ($114.9 million) in damages.

February 10

CIVIL LAW

Central Bank vs Iceberg Central Design Office shareholders

Moscow Commercial Court

Central Bank has filed a lawsuit to levy execution on the shares of Iceberg Central Design Office pledged under its loans to Mezhprombank controlled by former senator Sergei Pugachyov.

Mezhprombank was declared bankrupt in 2010.

Iceberg Central Design Office is part of United Industrial Corporation Shipbuilding (Sudostroeniye). Sudostroeniye assets also comprise Severnaya Verf, Baltiysky Zavod, mechanical engineering enterprises and auxiliary plants.

CIVIL LAW

Novolipetsk Iron and Steel Works (NLMK) vs Nikolai Maximov

Moscow Commercial Court

NLMK seeks to cancel a shares purchase contract dated November 22, 2007 between NLMK and Nikolai Maximov, according to which NLMK purchased a controlling stake in Maxi-Group. NLMK also claims back 7.3 billion rubles ($233 million) that it paid to Maximov for a stake in Maxi-Group.

In April 2011 the lawsuit was left without consideration. The Moscow Commercial Court deemed it should have been filed with the court of arbitration. The ruling was then appealed and reversed. The dispute was claimed corporate and the exclusive jurisdiction of the commercial court established. In December 2011 it was remanded for a new examination. Maxi-Group as an issuer was advised to be brought into proceedings.

LAND LAW

Estate Museum vs Defense Ministry

Moscow Commercial Court

Arkhangelskoye Estate Museum seeks to quash the auction for the sale of a land plot within the museum's preservation area. The Defense Minister ordered to sell the 20.67 hectare land plot on June 21, 2011.

The Arkhangelskoye Estate is a historical palace and park established in the late 18th century near Moscow. Renowned collector and art lover Prince Nikolai Yusupov bought Arkhangelskoye in 1810.

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