MOSCOW, June 15 - RAPSI. The Krasnoyarsk Territory Commercial Court has postponed until July 2 the hearing in RUSAL Upravlenie Investitsiyami's lawsuit against Norilsk Nickel, the court told the Russian Legal Information Agency (RAPSI/ on Friday. The lawsuit seeks to invalidate the Norilsk Nickel board's decisions adopted at share redemption meetings on September 13 and 21, 2011.

The court did not specify the reason for the postponement.

The Norilsk Nickel board approved the buyback deal by a majority vote at a September 2011 meeting. The buyback results were reviewed in early December.

Norilsk Nickel Investments, a Norilsk Nickel subsidiary, organized the transaction.

As part of the buyback, Norilsk Nickel purchased 14.7 million ordinary shares, or 7.7 percent of its charter capital. The stake was worth $4.5 billion. One share cost $306, with ADR costing $30.6.

The buyback parameters fully corresponded with the parameters of the offer made to RUSAL to buyout 15 percent of Norilsk Nickel. However, RUSAL refused to accept the offer.

RUSAL earlier reported that it does not support Norilsk Nickel's buyback. The company believes the procedure was not directed at securing all of the shareholders' interests, but rather at benefiting Interros, a major shareholder that sought total control over the company and its funds.

Norilsk Nickel is a diversified ore mining and smelting company, and the world's leading nickel and palladium producer. It operates industrial facilities in the Norilsk industrial region and on the Kola Peninsula in Russia, Finland, the United States, Australia, Botswana and South Africa.