Moscow Arbitrazh court upheld a claim brought by ONEXIM HOLDINGS LIMITED against CLEARSTREAM BANKING S.A.
On Thursday 12 March 2009 the Moscow Arbitrazh court upheld a claim brought by ONEXIM HOLDINGS LIMITED against CLEARSTREAM BANKING S.A. to invalidate an agreement for the sale of 208.912.071.804 ordinary shares in OJSC “TGK-4” (approximately 10,5% of the company’s charter capital) based on the mandatory offer of ONEXIM HOLDINGS LIMITED. CLEARSTREAM BANKING S.A. holds the shares in OJSC "TGK-4" to the benefit of PROSPERITY CAPITAL MANAGEMENT.
This Court judgment once again confirmed the illegality of actions of PROSPERITY and certain other shareholders of OJSC "TGK-4" undertaken in connection with the mandatory offer by ONEXIM HOLDINGS LIMITED .
We would like to remind that on 5 and 12 February 2009 the Moscow Arbitrazh upheld claims brought by ONEXIM HOLDINGS LIMITED against DEUTSCHE BANK (which also holds shares in OJSC "TGK-4" to the benefit of PROSPERITY) and HALCYON POWER INVESTMENT COMPANY LIMITED.