RUSAL , Norilsk Nickel | 28 February 2011 г. | 10:18

Court in Nevis Discharged Injunction and Ordered Rusal to Pay Damages and Legal Costs

Corbiere Holdings Limited (“Corbiere”), an indirect wholly-owned subsidiary of OJSC MMC Norilsk Nickel (“Norilsk Nickel”), announces that the Eastern Caribbean Supreme Court of the High Court of Justice of St. Christopher & Nevis, Nevis Circuit, has discharged in full the injunction obtained by Rusal on February 3, 2011. The injunction, which was obtained by Rusal without notice to Corbiere, had prevented Corbiere from completing the settlement of the offer to purchase shares of Norilsk Nickel announced on December 29, 2010 and voting shares of Norilsk Nickel, including ADRs, at the Extraordinary Shareholders Meeting of March 11, 2011 called by Rusal. As a result of today's Order, Corbiere will now be able to proceed with completion of the offer to purchase and vote the acquired shares, including ADRs, at the EGM. The Order directs Rusal to compensate Corbiere for damages incurred by it as result of the injunction and to pay its legal costs.

Although Rusal insisted that the application to discharge injunction be considered on March 2, Corbiere successfully demanded an urgent hearing to defend the interests of several hundred shareholders of Norilsk Nickel who had tendered their shares.

Corbiere believes that these claims are without merit and intends to continue to contest them vigorously.

Source: Metal Supply and Sale Magazine
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Court in Nevis Discharged Injunction and Ordered Rusal to Pay Damages and Legal Costs

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