MOSCOW, April 25 - RAPSI. The Chelyabinsk Regional Court will hear on May 24 a lawsuit filed by a Magnitogorsk Iron and Steel Corporation (MMK) minority shareholder to invalidate the board's resolution to purchase 100 percent of the shares in the Australian Flinders iron ore mining company.

The date was scheduled on Wednesday as a follow up to the preliminary hearings.

Earlier, Flinders Mines challenged the Chelyabinsk Commercial Court's April 12 judgment on an interim relief until the shareholder's lawsuit has been settled.

Flinders noted in a press release that it continued its talks with MMK and learned the Russian company would not change its conditions.

Flinders' directors still hold their shares and are sure the transaction will be successful, they said.

As an interim measure, the court imposed an injunction on the execution of a March 30 MMK board resolution to move forward with the purchase upon the request of Elena Yegorova, who believes that the transaction infringes on her rights as a minority shareholder.

ММК claimed that her lawsuit was unfounded and unsuccessfully appealed to the court to reverse the injunction.

ММК sought to purchase Flinders Mines for $537 million in November. The transaction was endorsed by nearly all the regulatory authorities.

Flinders Mines' shareholders approved the purchase in late March. The transaction structure was also submitted for consideration to the Federal Court of Australia.

However, the transaction was opposed by the MMK minority shareholder who claimed the deal could involve financial and operation risks and would affect the return on her investments.

The Chelyabinsk Regional Commercial Court prohibited MMK from acquiring Flinders.