Russian court upholds prosecutor general's office's claim to transfer shares in UGC to govt

CHELYABINSK. July 11 (Interfax) - The Sovetsky District Court of Chelyabinsk has ruled in favor of the claim of Russia's Prosecutor General's Office to transfer to the government the share of the principal owner of PJSC Uzhuralzoloto Group of Companies (UGC) , Konstantin Strukov, in the company and UGC Management Company, as well as the shares of persons associated with him in a number of companies, an Interfax correspondent reported from the courtroom.

The claim is subject to immediate enforcement. According to the parties to the case, the claim has been satisfied in full. The hearing on merit lasted less than two days.

The judge said Strukov's 149,816,288,208 ordinary shares in PJSC UGC as well as his 100% stake in the UGC Management Company have been transferred to the state. The ruling is grounds for JSC Maintenance of Company Registers to remove these shares from Strukov's account and credit them to the Russian Federal Property Agency's account. The ruling can be appealed at the Chelyabinsk Regional Court, its reasoning will be ready within 10 working days, and the minutes of the hearing within three working days.

The court also ruled to transfer to the state 100% of Business-Asset LLC, owned by Evgenia Kuznetsova; 100% of Home LLC owned by Natalia Zarubina; 100% of Uraltranskomplekt LLC owned by Sergey Evteev; 80% of Arbat-City LLC owned by Natalia Subbotina (35%) and Evteev (45%); and 67% of Subbotina's Agrocomplex Ecomodul LLC.

In addition, it was decided to transfer to the state stakes in several companies owned by Andrey Verzilin: 67% in Sady Predgorya LLC, 51% in each of Vinogradar LLC and VK Satera LLC, and 21.5% in Vinograd Plus LLC.

In addition, the court ruled to transfer 1% owned by Ekaterina Abramova in each of Loading and Transport Directorate LLC and Korkinsky Excavator-Wagon Repair Plant LLC to the state.

Dmitry Malbin, lawyer for UGC, told Interfax that UGC conducted its business in full compliance with the law. "We expect that the court will issue a full ruling in the very near future. After that, the company will decide whether to appeal," Malbin said.