NLMK seeks to cancel a shares purchase contract dated November 22 2007 between NLMK and Mr Maximov, according to which NLMK purchased a controlling stake in Maxi Group.

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 had 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 mutual lawsuits.

The Moscow District Federal Commercial Court cancelled all the judicial acts in the case on December 6 2011 upon Mr Maximov request and remanded the case for reconsideration to the trial court.

(Sourced from rapsinews.com)