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Russia: Polonsky will compensate shareholders - says lawyer01:17

Russia: Polonsky will compensate shareholders - says lawyer

Russian Federation, Moscow
January 14, 2014 at 12:47 GMT +00:00 · Published

Russia: Polonsky will compensate shareholders - says lawyer

Sergei Polonsky's lawyer Alexander Karabanov held a press conference in Moscow on Tuesday, whereupon he stated that those shareholders who lost their investments for which Polonsky has been charged in Russia will be compensated.

"We work actively with the shareholders. We have a plan to meet with an initiative group of shareholders approximately on January 28 where we want to sign essential documents confirming that Polonsky will compensate the loss - we are now discussing the format that will be beneficial both for the shareholders and Polonsky. And we want that there would be an understanding that Polonsky really wants to indemnify the shareholders for losses so that this issue could be finally close", lawyer Alexander Karabanov said.

The Cambodian Court of Appeal suspended Russia's extradition request for Sergei Polonsky in Phnom Penh, on Monday. A Russian court had ordered Polonsky's detention after he was tried and charged in absentia for a role in a 5.7 billion ruble (€127 million/$174 million) scam. The fraud case reportedly injured 80 people after depositors in a construction project lost their investments as the company froze and went into bankruptcy, which is alleged to be deliberate.

Russia: Polonsky will compensate shareholders - says lawyer01:17
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Russia: Polonsky will compensate shareholders - says lawyer

Sergei Polonsky's lawyer Alexander Karabanov held a press conference in Moscow on Tuesday, whereupon he stated that those shareholders who lost their investments for which Polonsky has been charged in Russia will be compensated.

"We work actively with the shareholders. We have a plan to meet with an initiative group of shareholders approximately on January 28 where we want to sign essential documents confirming that Polonsky will compensate the loss - we are now discussing the format that will be beneficial both for the shareholders and Polonsky. And we want that there would be an understanding that Polonsky really wants to indemnify the shareholders for losses so that this issue could be finally close", lawyer Alexander Karabanov said.

The Cambodian Court of Appeal suspended Russia's extradition request for Sergei Polonsky in Phnom Penh, on Monday. A Russian court had ordered Polonsky's detention after he was tried and charged in absentia for a role in a 5.7 billion ruble (€127 million/$174 million) scam. The fraud case reportedly injured 80 people after depositors in a construction project lost their investments as the company froze and went into bankruptcy, which is alleged to be deliberate.

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