FEDERAL ARBITRATION COURT OF POVOLZHSKIY DISTRICT CANCELS THE DECISION TO ANNUL PRIVATIZATION OF 6.1% OF TOGLIATTIAZOT SHARES
The Federal Arbitration Court of the Povolzhskiy district today cancelled the decision made by the Samara Arbitration Court on 29th May 2008 and the decision of the appeal court to nullify the 1996 privatization of 6.1% of JSC Togliattiazot (Samara region) shares, according to a Togliattiazot press release.
The case has been sent for further examination to the Arbitration Court of the Saratov region and will be examined for a fourth time.
Hearings on this matter have been held since 2004.
The Togliattiazot announcement emphasizes the fact that the reversal of the decision to annul all judgements relating to the privatisation of 6.1% of Togliattiazot shares means that there are no claims in relation to this deal.