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"Rusal" has won a case against the government agencies in Nigeria

«Rusal» won process initiated against them 4 Nigerian government agencies — the Federal Government, the Ministry of Finance, the Office of State-owned enterprises and privatization of the National Council. That decision was taken by the London Court of International Arbitration, where the company has addressed with its lawsuit in August 2012, wanting to formally prove the legality of the acquisition in 2006, the said organizations «Alscon» Company shares.

Voicing his decision on October 15 this year, the tribunal decided to confirm the terms of the previously reached agreements, according to which the sale-purchase of shares between the «Rusal» and the defendants, held in early February 2006, will be considered valid, obligatory, which entered into force in accordance with the agreed conditions. In these conditions the Russian corporation is the rightful owner of the purchased «Alscon» shares of the company without any additional onerous conditions, so that the counter-claims of the respondents were not satisfied.

Commenting on the Arbitration Commission decision, Alexey Arnautov, who is the director of «Rusal» on new projects, said that the company's management welcomes this decision, because it is «Rusal» put a lot of effort to convert the previously frozen for 10 years, the factory into a modern and technologically advanced enterprise. Despite the temporary halt aluminum production, which is produced in the framework of the program on capacity reduction, the corporation management conducts all the necessary work, preparing «Alscon» for the resumption of work processes and further development.

Also, representatives of «Rusal» reported the UK Court of Appeal decision regarding the lawsuit filed LME aside the decision taken by the judge Justice Phillips. According to this consultation by the LME have been insufficient for making any decisions, and changes in the rules, it proposed, illegal. According to the court decision in order to ensure the impartiality of the London Stock Exchange should be consulted on alternative measures — a total ban or restrict the fees for metal storage in the vaults of the LME. «Rusal», showing dissatisfaction with the decision, is going to get permission regarding filing an appeal to the Supreme Court.

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