Rus News Journal

The court has rejected the claim about illegitimacy of appointment of the general director Tapes

the Court of the British Virgin Islands has published yesterday the decision from November, 22nd, 2010 about refusal under the claim of one of shareholders of the Russian network of hypermarkets the Tape - companies Svoboda - in a recognition void decisions of the unique participant from the August, 6th confirming competency of the general director of that time of a network Yana Djunninga.
the Document has been signed by the chief of the department of direct investments and special projects VTB the Capital Timothy Demchenko and the operational director of fund TPG Capital in Russia Dmitry Shvetsom also it is ratified by board of directors Lenta Ltd. (100 % of Open Company " own; the Tape ) On October, 15th, 2010. The decision of court of the British Virgin Islands became a natural result of the hearings which have passed on November, 10th.
the first point of a judgement from November, 22nd specifies that claim Svoboda is in essence left without satisfaction. During session the judge has listened to arguments of representatives VTB the Capital and TPG Capital that the board of directors has been blocked within all summer from - for absences of representatives Svoboda, and has agreed that with D.Shvets and T.Demchenko operated in interests Tapes and according to will of five of seven councillors of directors.
the decision of the judge consists also that the document which has confirmed powers Yana Djunninga as the general director, can be ratified on board of directors. we would like to underline especially this conclusion of court which is ignored by our opponents, - Timothy Demchenko has declared.
For today fund TPG together with VTB - the Capital owns a share in 30,8 % in Open Company the Tape Svoboda - about 41 %, the European bank of reconstruction and development (European Reconstruction and Development Bank) supervises 11,1 % ritejlera.
Open Company the Tape it is based in 1993. The founder - Lenta Ltd., registered on the British Virgin Islands (BVI). The head office of the Russian company is in St.-Petersburg. As of the middle 2010. In regions of Russia 37 shops of a network, including 14 - in Petersburg work. Pure sales of a trading network the Tape in I half-year 2010. Have grown on 22,5 % in comparison with the similar period 2009. Also have made 31 mlrd 103 million rbl.