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[31.05.2010]
ANNUAL GENERAL SHAREHOLDERS’ MEETING OF JSC TOGLITTIAZOT TOOK PLACE
On Saturday, 29th May, the annual general shareholders’ meeting of JSC Togliattiazot took place. The meeting was in full compliance with the current legislation. The Board of Directors of JSC Togliattiazot was formed and the annual company’s report was approved.
[21.04.2010]
THE INVESTIGATING COMMITTEE ATTACHED TO THE MINISTRY OF INTERNAL AFFAIRES OF THE RUSSIAN FEDERATION HAS DISCHARGED A PROSECUTION TO VLADIMIR MAKHLAY, THE CHAIRMAN OF THE MANAGEMENT BOARD OF JSC “TOGLIATTIAZOT”, AND TO ALEXANDER MAKAROV, THE GENERAL MANAGER OF JSC “TOGLIATTIAZOT”
As of April 1 2010 the Investigating Committee attached to the Ministry of Internal Affaires of the Russian Federation has discharged the criminal case 290823 against the management of JSC "Togliattiazot" by virtue of sec.2 p.1 art.24 of the Code of Criminal Procedure of the Russian Federation, i.e. for the lack of elements of crime in effect by Vladimir Makhlay and Alexander Makarov. Thus the lasting criminal prosecution to Vladimir Makhlay, the Chairman of the management board of JSC "Togliattiazot", and to Alexander Makarov, the General Manager of JSC "Togliattiazot", was entirely discharged.
[18.09.2009]
NO CLAIMS IN RELATION TO PRIVATIZATION OF 6.1% OF THE JSC “TOGLIATTIAZOT” SHARES
Arbitration Court of Saratov region made the decision to deny the action of Federal Agency of State Property Manafement of Russian Federation for invalidation of the sale – purchase transaction of 6.1% of the JSC “Togliattiazot” shares.
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07.12.2007
Endless Trials

One can understand the state of affairs at the giant chemical company and the largest in the world ammonia producer from the fact that its employees celebrate allowance of cassational appeal as a majour victory in their fight with raiders.they According to the Interfax agency, the Federal Arbitration Court of Povolzhsky Territory has recently sent the case of privatization of 6.1% of TogliattiAzot (ToAz) shares for review. It is going to bethe third reviewal of the case.

The joy of the ToAz employees is understandable. According to ToAz counsel, if Rosimushchestvo, in its capacity as a claimant, has not won the case concerning privatisation yet, it proves that the claimant’s arguments are groundless.

The suit against TAFCO (which was accused of an illegal purchase of 6.1% of ToAz shares from the Samara Region Property Fund in 1996) was initiated in 2004 by the government officials and the investigation had faced widespread inconsistencies from the start At first the Samara Region Arbitration Court exposed these inconsistencies and subsequently dismissed the case. However some time later Rosimushchestvo managed to secure a court ruling on appeal.

As a result, in 2006 the court gave its ruling in favour of Rosimushchestvo and obligated TAFCO to return the 6.1% of ToAz shares to the government. As for the Samara Region Property Fund (which had gone out of existence by that time), it was ordered to pay 3 million rubles to the company. It should be highlighted that TAFCO had not held ToAz shares at that time. The court had knowledge of this fact from the beginning. In addition to the evident inconsistence, ToAz’s attorneys had found a large numbers of errors, which were stated in their appeal.

At present ToAz is going into the third round of hearings. At the same time there will be a hearing held for the privatisation of 51% of OAO Transammiak by ToAz. Just before the session of the Federal Arbitration Court of Povolzhsky Territory, the Supreme Arbitration Court of the Russian Federation has heard an ToAz’s appeal related to the decision of the Samara Region Arbitration Court, which declared the exchange of Transammiak control stock to the equal holding of ToAz shares void.

 

Source: Komsomolskaya Pravda
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