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Rusal: Files Lawsuit Against Norilsk In Russia On AGM Voting

iconAug 17, 2010 00:00

MOSCOW, Aug 17 -- Russian aluminum giant United Co. Rusal PLC (0486.HK) said Monday it has filed a lawsuit against miner OAO Norilsk Nickel (GMKN.RS) in the arbitration court of Krasnoyarsk, in Siberia, in connection with the Norilsk annual general shareholders meeting.

Rusal, which owns a 25% stake in Norilsk and is fighting for control of the company with the Interros Group, also the owner of 25% stake, said the miner's management didn't provide it with the ballots used at the AGM.

Rusal said it needs the ballots to identify "violations", which it believes "had been made by the management of Norilsk during the AGM".

Rusal has voiced dissatisfaction with the outcome of Norilsk's annual meeting June 28, as well as with the company's strategy and management.

At the meeting, Rusal's board representation fell to three people from four, and Chairman Alexander Voloshin, whom Rusal supported, was ousted.

Rusal has repeatedly accused both Interros and Norilsk management of irregularities during the meeting, and called for replacement of the company's current Chief Executive Vladimir Strzhalkovsky.

Both Interros and Norilsk management deny any wrongdoing.

 

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