According to Mr Maximov lawyer a court has remanded for reconsideration the court refusal to hear NLMK lawsuit against Maxi-Group head Mr Nikolai Maximov on the grounds that the case was out of its jurisdiction.

According to which NLMK purchased a controlling stake in Maxi-Group NLMK seeks to cancel a shares-purchase contract between NLMK and Maximov. NLMK also claims back RUB 7.3 billion that it paid to Mr Maximov for a stake in Maxi-Group.

NLMK acquired a 50% plus one share stake in Maxi-Group from Mr Maximov in December 2007. The equity purchase contract did not stipulate a fixed price for the deal, as the parties agreed to postpone a final settlement until a financial and legal examination of Maxi-Group subsidiaries has been completed. NLMK paid a RUB 7.3 billion down payment to Mr Maximov. The parties eventually disagreed on the final cost of the deal which resulted in several mutual lawsuits.

(Sourced from rapsinews.com)