News

18 November 2011 NLMK Group

NLMK wins in Amsterdam court

On November 17, 2011 the Amsterdam Court ruled in favor of NLMK, dismissing Maximov's request for leave to enforce the arbitral award of the ICAC (Moscow) dated March 31, 2011, that was annulled by the decision of the Moscow Arbitration Court in April 2011. The decision of the Amsterdam Court is the third decision issued by European courts in favor of NLMK. Earlier decisions by the courts of Luxembourg and Cyprus dismissed Maximov’s attempts to attach the assets of foreign subsidiaries of NLMK in connection with the annulled award. NLMK is now seeking an injunction in the Amsterdam Court that would prohibit Mr. Maximov from misrepresenting the factual background of the case in other jurisdictions. NLMK welcomes the decision of the Amsterdam Court and will continue to vigorously protect its lawful interests in a dispute with Mr. Maximov.