The Yaroslavl court recognized the legality of the seizure of TGK-2 shares in favor of the state

The Yaroslavl Regional Court upheld the decision of the court of first instance to confiscate 83% of the shares of PJSC TGC-2 in favor of the state at the request of the Prosecutor General’s Office of the Russian Federation. The defendants’ appeals were denied. About it reported in the press service of the Yaroslavl regional court.

July 14 Leninsky District Court of Yaroslavl satisfied the claim Deputy Prosecutor General of the Russian Federation on the seizure of shares of PJSC TGC-2 from Kostroma Kogeneratsiya Limited, Janan Holdings Limited, Raltaka Enterprises Ltd, Litim Trading Limited, Kores Invest LLC, Leonid Lebedev and Debt Agency LLC, which is a subsidiary of PJSC TGC-2 2. The plaintiff insisted that the companies received shares as a result of the corruption case of Leonid Lebedev, and therefore should be confiscated in favor of the state.

The defendants did not agree with the court’s decision and filed appeals. They referred to the fact that the court did not properly notify the defendants about the court hearing and made a decision without the necessary evidence base. The defendants insisted on canceling the decision of the Leninsky Court.

Today, October 13, the Yaroslavl Regional Court examined the complaints and “found no grounds” for satisfying them. The decision of the Leninsky Court to confiscate TGK-2 shares remained unchanged and entered into force. “83% of the shares of PJSC Territorial Generating Company No. 2 are transferred to the income of the Russian Federation. The decision has entered into legal force,” the court said.

A representative of Kores Invest LLC told Kommersant that the five defendants will continue to appeal the decision of the court of first instance to the Court of Cassation.

Kommersant collected information about how the state is reclaiming previously privatized enterprises in a certificate “How prosecutors confiscate business assets”.

Alla Chizhova, Yaroslavl