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Major insurer obliged to submit engagement letters to minority shareholders

12:06 09/02/2012

MOSCOW, February 8 - RAPSI. A court of appeals has held against Ingosstrakh insurance company's petition to cancel the $17,000 fine imposed by the Federal Service for Financial Markets for failure to provide engagement letters to its minority shareholders, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Thursday.

The financial markets watchdog fined Ingosstrakh after its minority shareholders complained that the insurer failed to give them copies of engagement letters from the lawyers representing Ingosstrakh in court.

RAPSIА/rapsinews.com has yet to reach Ingosstrakh for comments.

Founded in 1947, Ingosstrakh is Russia's leading insurance company. It operates over 220 offices in Russia and abroad.

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Major insurer obliged to submit engagement letters to minority shareholders

12:06 09/02/2012 A court of appeals has held against Ingosstrakh insurance company's petition to cancel the $17,000 fine imposed by the Federal Service for Financial Markets for failure to provide engagement letters to its minority shareholders.
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