Rus News Journal

Insult on 4 mlrd roubles

AFK System demands from the Russian Railway of indemnification for refusal of share sale in PGK

AFK System Vladimir Yevtushenkov, the Russian Railway of 25 % of actions of the First cargo company challenging sale Vladimir Lisinu, was possible manage court to suspend this transaction. Moreover, System has demanded from railway monopoly of indemnification at a rate of 4 mlrd rbl. for refusal of the admission to the auctions.

On Tuesday the Arbitration court of Moscow has forbidden the Russian Railway to conclude the transactions connected with sale of a block share holding of the First cargo company (PGK, the Russian Railway 25 % plus one share of company own, the rest belongs to Vladimir Lisina`s Independent transport company). The interdiction has been imposed in quality obespechitelnoj measures under claim AFK System challenged last week the Russian Railway auctions on sale of remained package PGK. Let`s remind, in the middle of October the monopoly has carried on competitive negotiations with potential buyers PGK — NTK and AFK System following the results of which the demand of the company of Vladimir Lisina with the price of the offer 50 mlrd rbl. has been recognised the best. system has not been admitted to the auctions. In the Russian Railway have explained it to that the company has finished 2011 at a loss in 13 mlrd rbl. (on RSBU).

the President Systems Michael Shamolin said earlier daily that the corporation does not agree with arguments of the Russian Railway and will challenge the monopoly decision. we, as the public company, report under the international standards, and proceeding from it have finished last year with net profit in 218 million dollars — the head of corporation has declared earlier, having noticed that in criteria of selection of the Russian Railway the necessary type of the reporting has not been specified. He also has underlined that System was ready to offer higher sum for an active.

Now System intend not only achieve carrying out of the new auctions, but also to obtain from the Russian Railway solid reward as indemnification for refusal in the admission to already spent. According to court materials, it is a question about 4 mlrd rbl. In AFK System did not begin to make comments on a situation. The source familiar with a position of corporation, has explained daily what exactly such sum applicants for share PGK have brought as the deposit. this money has been returned to System after the auctions, however the Civil code supposes possibility to demand from the organizer of indemnification at a rate of the deposit if the court recognises refusal in the admission to the auctions unfair — the interlocutor daily has informed. Consideration of this business is appointed to January, 14th.

In the Russian Railway have already made the complaint to application obespechitelnyh measures concerning sale PGK. Of the company are assured that the bases for their application do not exist. In UCLH (unites Vladimir Lisina`s transport actives, including NTK) also have refrained from the answer. Meanwhile at once some sources in monopoly have told daily that the Russian Railway have already received the instruction from the government, and company board of directors here - here should approve sale PGK . In Rosimushchestve have confirmed presence of the governmental instruction.

Meanwhile from item 2 of item 381 of the Civil code of the Russian Federation follows that if the party which has received the deposit is responsible for contract default, she is obliged to pay to other party the double sum of the deposit . Under the law the deposit in the double size can demand only the winner of the auctions if the organizer has evaded from signing of the report by results of the auctions or the contract, Yaroslav Kulik from Art De Lex specifies. Besides, sale PGK has taken place in the form of competitive negotiations which formally the auctions are not, the lawyer reminds. As he said, if to System It will be possible to prove that it were the auctions, chances of a victory considerably will increase, however the Russian courts extremely reluctantly do it.

I do not think that to System it will be possible to achieve carrying out of the new auctions, but to drag out process of sale PGK and create a discomfortable situation for the Russian Railway they already could — the director of agency " argues; Infoline - analytics Michael Burmistrov. In its opinion, most likely, System will withdraw the claim if will receive any interesting offer on actives in a segment of railway business from Vladimir Lisina.