Rusal files new claims against Potanin over management of Nornickel

Rusal, 1 of the world’s largest aluminium producers, and shares listed connected the Hong Kong Stock Exchange, has expanded the suit it filed successful a London tribunal successful 2022 against Vladimir Potanin, co-owner and caput of Nornickel. According to Reuters, Rusal’s amended assertion accuses Potanin of actions that allegedly harmed Nornickel done integer initiatives, including the blockchain level Atomyze.

The caller claims asseverate that the instauration of the Atomyze integer speech level for tokenizing concern assets (palladium, cobalt, copper and different precious metals) and the motorboat of an worker inducement programme astatine Nornickel benefited Potanin personally to the detriment of different shareholders specified arsenic Rusal. According to Rusal, Nornickel spent immoderate $87 cardinal connected the projects.

Potanin owns a 37% involvement successful Nornickel done his Interros holding company, portion Rusal holds a 26.4% stake.

Nornickel, the world’s largest palladium shaper and a large miner of refined nickel, is not a enactment to the lawsuit. The company, remains extracurricular the scope of the proceedings.

Rusal archetypal filed the suit successful the autumn of 2022, accusing Potanin of breaching a shareholder statement connected his absorption of Nornickel. The suit seeks compensation and calls for Potanin to resign arsenic caput of the company.

Rusal claims that, nether Potanin’s leadership, Nornickel mislaid respective cardinal concern assets and mismanaged the group, which could person led to galore workplace accidents, and that shareholders incurred important losses.

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