The fight for control of Russian carrier Transaero has gone to court as founder Alexander Pleshakov seeks retribution for his recent ousting by Boris Berezovsky after a hostile take-over of the airline (Flight International, 26 August-1 September).
Court action is being taken in Moscow and the southern Russian town of Orel, where the airline is registered. On 26 August, the arbitrary court in Orel made a ruling to freeze 12.38% of Transaero shares belonging to Berezovsky's investment firm, LogoVAZ, until the final decision is made.
LogoVAZ has formed a pool of majority shareholders to take over the airline's management, but the recent Orel court ruling prohibits LogoVAZ from voting with its shares or selling them, putting Berezovsky's stake in question.
LogoVAZ is accused of not paying in full for the Transaero shares, but Yuliy Dubov, LogoVAZ general director, denies any legal violations and claims that he has the necessary papers to confirm his company's ownership of the Transaero shares.
A hearing in the Moscow arbitrary court for yet another package of disputed shares is scheduled for 16 September.
Source: Flight International
