Conflict-related news
The Court of Hamburg rules to ban distribution of Nikolay Maximov's false allegations
The Court of Hamburg has issued a ruling banning the publication of Nikolay Maximov’s false claims made in an interview to the German business weekly Wirtschaftswoche in December 2010.
Court holds Maximov responsible for RUR6 billion in bankruptcy case
On February 21, 2012 the Seventeenth Arbitration Appeal Court (Perm) found Nikolay Maximov to be liable for approximately RUR6 billion in the UralSnabComplect (Maxi-Group’s largest debtor) case (#А60-1260/2009; link to site: http://kad.arbitr.ru/Card/c56d13cf-7a67-47ae-a95a-3ef94eb5c568).
RF Supreme Commercial Court and Constitutional Court Support NLMK
The Constitutional Court and the Supreme Commercial Court of the Russian Federation have supported NLMK’s position regarding the unlawfulness of the award issued by the International Commercial Arbitration Court (ICAC) at the Chamber of Commerce & Industry (CCI) of the Russian Federation that was challenged by Nikolay Maximov.
NLMK wins case in Amsterdam court
On November 17, 2011 the Amsterdam Court ruled in favor of NLMK, dismissing Maximov's request for leave to enforce the arbitral award of the ICAC (Moscow) dated March 31, 2011, that was annulled by the decision of the Moscow Arbitration Court in April 2011.
NLMK wins in Cyprus court
On November 14, 2011 the Nicosia (Cyprus) Court ruled in favor of NLMK, withdrawing the case and canceling the arrest that had been placed over the property of Novexco (Cyprus), NLMK’s affiliated trading company, in September 2011 based on a claim from Nikolay Maximov, for a total of approximately EUR30 million.
Russian steel case: Luxembourg cancels arrest of SIF shares
28 October 2011. Palais de Justice, Luxembourg ruled to cancel the arrest that had been placed over the shares of Steel Invest and Finance (SIF) in June 2011 based on a claim from Nikolay Maximov.
Maximov loses RUR9.5 dispute to NLMK at Court of Cassation – Pravo.ru
26 September 2011. Nikolay Maximov has failed to challenge the Moscow City Arbitration Court ruling to overturn the Arbitration Court award that had satisfied his claim and awarded him RUR9.5 billion in compensation from NLMK. Today, the Federal Arbitration Court of the Moscow District dismissed Maximov’s appeal (F05-8762/11). The case was heard by a three judge panel, Liudmila Tutubalina, Dmitry Plushkov and Lubov’ Moiseeva.
Maxi-Group declared bankrupt
The Moscow City Arbitration Court issued a ruling declaring bankrupt and initiating bankruptcy procedures against Maxi-Group.
NLMK denies receiving settlement proposals from Maximov
NLMK has noted comments attributed to Nikolay Maximov in an article published by Gazeta.Ru on July 6, 2011 (Maxi-Searches by Anastasia Matveeva), stating that “In February-March I proposed settling the offense out of court… However, I received no response.”
Court overturns ICAC ruling
On June 21, 2011, Moscow. the Moscow City Arbitration Court issued a ruling accepting NLMK’s application to overturn the International Commercial Arbitration Court (ICAC) award from March 31, 2011 which had partially satisfied the claim of Nikolay Maximov and awarded the latter RUR9.5 billion in compensation. The Moscow City Arbitration Court supported NLMK’s position, dismissing Maximov’s motions aimed at delaying the proceedings and seeking to leave the claim undecided. As a result of the order, the RUR9.5 billion ICAC award has been annulled.
Sverdlovsk Commercial Court has collected more than RUR350 million from the former manager of Maxi-Group
May 12, Yekaterinburg. The Arbitration Court of Sverdlovsk region has delivered a judgment collecting more than RUR350 million from Mikhail Gulyaev, the former Director of UZPS CJSC.
NLMK challenges ICAC arbitration award
April 8, 2011, Moscow. NLMK OJSC has filed a lawsuit with the Moscow Commercial Court seeking an order to annul the March 31, 2011 International Commercial Arbitration Court (ICAC) award partially satisfying the claim of Mr Maximov
NLМК receives confirmation of ICAC arbitrators’ bias
April 6, 2011, Moscow. NLMK OJSC has addressed Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation, with a motion to disqualify the current ICAC arbitration panel, pointing to serious procedural violations committed by the panel when disregarding NLMK’s claims, as well as to wilful non-disclosure of the arbitrators’ ties with the experts and consultants involved in preparing Mr Maximov’s case for the ICAC.
NLMK comments on ICAC decision
April 2, 2011, Moscow. On March 31, 2011 the International Commercial Arbitration Court (ICAC) of the Chamber of Commerce and Industry of the Russian Federation partially satisfied the claims of Nikolay Maximov, Maxi-Group’s minority shareholder, against NLMK OJSC. NLMK’s motions to suspend the ICAC proceedings until the resolution of Maxi-Group bankruptcy hearings before the Moscow City Arbitration Court, as well as to disqualify the current arbitration panel, were denied.
Nikolay Maximov’s appetites grow
April 2, 2011, Moscow. Nikolay Maximov has presented a new claim to NLМК OJSC concerning recovery of damage resulting from the premeditated bankruptcy of the Maxi-Group OJSC due to “raiding” actions.
NLМК brings a challenge against all members of ICAC arbitration in regard to Maxi-Group case
March 24, 2011, Moscow. NLМК OJSC has submitted an application challenging the whole entire arbitration panel of the International Commercial Arbitration Court (ICAC) at the Chamber of Commerce & Industry (CCI) of the Russian Federation (RF) involved in hearing the dispute between NLМК OJSC and the former president of Maxi-Group OJSC Nikolay Maximov, regarding the fulfilment of mutual obligations according to the Agreement dated November 22, 2007.
American Appraisal estimated Maxi-Group at $268 million
March 23, 2011, Moscow. American Appraisal, the leading global valuation firm, has prepared an independent estimation of Maxi-Group’s business and the market value of its stocks as of December 3, 2007 (the date of the stock of shares’ transfer to NLMK OJSC). The report was initiated in relation to the ongoing legal proceedings regarding the value of 50%+1 of Maxi-Group’s shares, sold by N. Maximov to NLMK OJSC in accordance with the Agreement dated 22 November 2007.
NLМК addresses ICAC with new applications
February 15, 2011, Moscow. NLMK has submitted an application to the International Commercial Arbitration Court at the Chamber of Commerce & Industry of the Russian Federation with a request to suspend the legal action of NLМК OJSC on collecting the unlawfully obtained RUR5.9 billion from Maximov. This is connected with the fact that hearings are commencing on February 19, 2011 in the Moscow Arbitration Court in response to an application by NLМК OJSC concerning Maxi-Group bankruptcy. The value of shares of this Company is subject to dispute in ICAC.
NLMK's Position on Nikolai Maximov’s Latest Media Announcements
July 26, 2010, Moscow. Since July 2010 the minority shareholder of Maxi-Group OJSC, Nikolay Maximov, has repeatedly tried to air in public the legal controversy between himself and NLМК OJSC.