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Russia-Ukraine $3 Billion Battle Back in London Court

While the war in Ukraine’s east continues to rage four years on, the battle between Russia and Ukraine is returning to the calm and order of a London courtroom. There, British judges, unwilling to play diplomat, are this week set to rule on an appeal by ...

Daily Headline - global.abi.org - 09/12/2018 - 23:43 - 0 comments

Essar Steel Insolvency: Second Round Bids Put in by Numetal, ArcelorMittal and Vedanta to be Opened Today

Second-round bids put in by Russia's VTB Group-backed Numetal Ltd, ArcelorMittal and Vedanta will be opened on Monday, people with direct knowledge of the development said. The Resolution Professional, overseeing the auction of Essar Steel to recove ...

Daily Headline - global.abi.org - 09/10/2018 - 23:24 - 0 comments

Court Halts Liquidation of Aviation Company Linked to Controversial Russian Businessman

The High Court has granted a temporary injunction preventing an Irish registered aviation company linked to a controversial Russian businessman from going into voluntary liquidation, The Irish Times reported. Mr Justice Michael Quinn made an interim ...

Daily Headline - global.abi.org - 08/30/2018 - 01:04 - 0 comments

Motor Racing-Russian Potash Producer Questions Force India F1 Takeover

Russian potash producer Uralkali has questioned the process behind the sale of the Force India Formula One team after losing out in a battle between billionaire fathers of young racing drivers, Reuters reported. Uralkali co-owner Dmitry Mazepin is the fa ...

Daily Headline - global.abi.org - 08/21/2018 - 22:08 - 0 comments

Ruble Drops to 2016 Low as Traders Ask How Far Sanctions Will Go

The ruble extended its steepest slide in almost two years as a fresh round of U.S. sanctions against Russia deepened concern about what could be targeted next, Bloomberg News reported. Investors who had been building long positions in the currency earlie ...

Daily Headline - global.abi.org - 08/09/2018 - 22:52 - 0 comments

Essar Steel Insolvency Case: Aurora Enterprises Would Have No Control Over Firm, Says Numetal to NCLAT

Russia's VTB Capital-backed Numetal on Tuesday said Ruia family scion Rewant will never be in management of Essar Steel even though the rules do not bar blood relations of delinquent promoters from bidding for loan defaulter companies being auctione ...

Daily Headline - global.abi.org - 07/19/2018 - 01:30 - 0 comments

Petropavlovsk Gives Bridge Loan to Hong Kong Iron Ore Company to Meet ICBC Payment

Russian gold miner Petropavlovsk, which is battling a shareholder attempt to remove its board, has agreed to provide a last minute bridge loan to a Hong Kong iron ore company in which it owns a 31 per cent stake, the Financial Times reported. The Lon ...

Daily Headline - global.abi.org - 06/13/2018 - 23:58 - 0 comments

Investors Burned by Sanctions Creep Back Into Russian Debt

It didn’t take long for the world’s biggest bond investors to decide that Russia isn’t quite such a toxic trade after all, Bloomberg News reported. Less than two months after getting caught out with overweight positions as Russian debt was roiled by a fr ...

Daily Headline - global.abi.org - 05/23/2018 - 23:38 - 0 comments

Numetal Offers Rs 37,000 Crore For Essar Steel, Seeks Second Round Of Bids

Russia’s VTB Capital-led Numetal Mauritius Pvt Ltd. today told the company law appellate tribunal that it has offered over Rs 37,000 crore for Essar Steel Ltd. in the second round of bidding, Bloomberg Quint reported. The second round should be opened an ...

Daily Headline - global.abi.org - 05/17/2018 - 23:17 - 0 comments

Directors of insolvent companies to face increased liability risk

Russian insolvency law provides that directors (and other controlling persons) can be held liable for the failure to file for insolvency in a timely manner and for actions (or inaction) that prevented full repayment of the creditors’ claims. The amendmen ...

Resource Article - twallace@abiwor... - 05/08/2018 - 11:23 - 0 comments - 1 attachment

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