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Ex-Russian-Armenian Mp Sues Business Partners In London

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  • Ex-Russian-Armenian Mp Sues Business Partners In London

    EX-RUSSIAN-ARMENIAN MP SUES BUSINESS PARTNERS IN LONDON

    12:02 ~U 02.04.13

    Ashot Yegiazaryan, a former ethnic Armenian member of Russia's State
    Duma, has filed a lawsuit against ex-business partners at the London
    High Court, Gazeta.ru reported.

    His allegations are based on disputes over the reconstruction of
    the Moscow Hotel. The plaintiff's lawyer, Dmitry Baranninkov, has
    confirmed the report, refraining from further comments.

    Yegiazaryan had earlier stated repeatedly that he had fallen victim
    to a corporate dispute with the former colleagues, Suleiman Kerimov
    and Arkady Rotenberg. But the London International Court of Cassation
    and the Nicosia District Court dismissed the charges over lack of
    evidence, refusing to impose a lean on the businessmen's assets.

    The Moscow Hotel is owned by the Russian businessman, Mikhail
    Shishkhanov. A controversial asset is said to "have given birth"
    to one of the most high-profile conflicts in 2010.

    The hotel's reconstruction began in 2003. The Dekmos Company, a joint
    venture owned by the Moscow City Hall (49%) and the closed joint-stock
    company Dekorum, was responsible for the project's implementation.

    Dekorum, which was affiliated with the Russian-Armenian MP, had
    concluded a deal with Deutsche Bank's Russian branch for financing the
    construction work, agreeing instead to pawn its shares in Dekmos. The
    agreement caused the Moscow authorities to become liable for Decorum's
    debts to prevent the Dekmos shares from being transferred to Deutsche
    Bank.

    Later, OEK Finans, a daughter company belonging to the Moscow
    authorities, allocated $87.5 million to Decorum to help it pay off
    the controversial debt. In return, the City Hall was expected to get
    25.5% of the shares, increasing its assets to 74.5%. But the shares
    never reached the City Hall. OEK Finans was not awarded a managerial
    right after paying off the loan. Kermov and Rotenbarg thus became
    the owners of the shares.

    A criminal case was later filed over embezzlement charges.

    Yeghiazaryan was accused of establishing illegal control over Dekmos.

    Stripped off immunity in November 2010, he later faced federal and
    international investigation.

    Yeghiazaryan has claimed that he has been a victim of an illicit deal
    where the real culprits were Kerimov, Rotenberg, and a former mayor
    of Moscow Yuri Luzhkov together with his spouse, Yelena Baturina. The
    former parliament member is said to be confident that Kerimov and
    Rotenberg had illegally come into possession of the shares.

    Yeghiazaryan now estimates the damage at $2 billion.

    Armenian News - Tert.am


    From: Baghdasarian
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