MOSCOW, April 9 - RAPSI. The Moscow Commercial Court will hear on May 16 a lawsuit filed by the Ingosstrakh insurance company's minority shareholders to revoke decisions made at its annual shareholders meeting in May 2010.

The lawsuit was lodged by minority shareholders owned by PPF Investments. The plaintiffs own a 38 percent stake in Ingosstrakh.

The minority shareholders disagree with the approval of interested-party contracts.

The plaintiffs maintain that Ingosstrakh's shareholders, who own a 60 percent stake in the company, are affiliated with Oleg Deripaska's Basic Element (BasEl), and should not vote on contracts with other companies affiliated with BasEl.

Ingosstrakh denied the charges, claiming there is no evidence that the shareholders are affiliated with Deripaska. However, Ingosstrakh refused to expose the contract conditions to the minority shareholders.

Several other Ingosstrakh shareholders, including BasEl, are involved in the case as third parties. The Federal Antimonopoly Service is also a third party to the case.

The court had already heard the case earlier and dismissed it in February 2011. However, the final judgment was canceled and the case was remanded for review.

Ingosstrakh is a leading Russian insurance company operating on the international and domestic markets since 1947. The company has offices in 220 Russian cities and towns, as well as subsidiaries and representative offices abroad.