Perm Regional Arbitration Court applied injunctive remedies with regard to “Perm Port” JSC
In April 2017 FAS initiated judicial proceedings on invalidating transactions that had established control of a UK national Charles Batler over “Perm Port” JSC.
On 15 May 2017, Perm Regional Arbitration Court applied injunctive remedies upon a claim filed by the Federal Antimonopoly Service (FAS Russia) to invalidate transactions on purchasing shares of “Perm Port” JSC.
The injunctive remedies prohibit shareholders of “Perm Port” JSC – “BOSWORTH, SE” of the Czech Republic and “AMAGER s.r.o.”, of the Czech Republic, as well as a Russian citizen A. Saigina, whose pledgee of shares is “GRYLUSON, SE”, the Czech Republic – to carry out any transactions with the shares of “Perm Port” JSC that they own.
The next Court hearing is scheduled on 3 July 2017.
Under No.57-FZ Federal Law “On the procedure of foreign investments in the economic entities of strategic importance for the national defence and state security”, to obtain the right to control companies of strategic importance for the national defence and state security, foreign investors must obtain a prior decision of the Government Commission for control over foreign investments in the Russian Federation. Transactions made in breach of the law are void.
“We think that the proceedings will not be easy”, commented Andrey Yunak, Head of FAS Department for Control over Foreign Investments. “Nevertheless, limitation of violations should not encourage withdrawal from responsibility by the persons who, in our opinion, avoided executing the law on foreign investments”.