Rusal filed a lawsuit against Potanin

Aluminum producer Rusal has filed a lawsuit in the High Court in London against the head of Norilsk Nickel, Vladimir Potanin, and his company Whiteleave Holdings Limited. Rusal accused Mr. Potanin of failing to fulfill his duties as a managing partner at Norilsk Nickel. The plaintiff alleges that he tried to settle the claims out of court, but “attempts were not successful.”

AT press release Rusal says that under the leadership of Vladimir Potanin, Norilsk Nickel “lost a number of business assets that played a key role in the group’s activities.” This allegedly led to the fact that Norilsk Nickel and its shareholders suffered significant losses. The plaintiff is convinced that Norilsk Nickel should be headed by “an independent leader with the necessary professional competencies.” Rusal also requires compensation for losses “caused by the activities of Mr. Potanin.” The amount of damages must be determined by the court.

“For a long time, Rusal tried to enter into constructive negotiations with Mr. Potanin for an out-of-court settlement of the voiced claims. However, these attempts were not successful and now Rusal must follow the dispute resolution procedure provided for in the 2012 shareholder agreement, according to which claims must be submitted to the High Court in London, ”the company said.

UC Rusal and Norilsk Nickel have been discussing the possibility of a merger since 2008, but in November 2017 the parties abandoned such an idea. In July 2022, Vladimir Potanin in an interview with RBC informedthat his company and Rusal will return to discussing the merger. According to him, Norilsk Nickel sent UC Rusal consent to start negotiations. However, Reuters reportedthat the merger is unlikely to take place as long as Mr. Potanin, who is under UK sanctions, remains the majority shareholder of the company.

On the possibility of merging companies – in the material “Kommersant” “Eternal Confluence of Pure Mind”.