Court satisfies claim of Prosecutor General's Office to seize part of shares of Kaliningrad Commercial Sea Port
46.5% of the port’s shares will be seized for the benefit of the state
The Arbitration Court of the Kaliningrad Region satisfied the claim of the Prosecutor General's Office of the Russian Federation to seize part of the shares of the Kaliningrad Commercial Sea Port for the benefit of the state, according to the court materials.
The case hearing took place on 12 May 2023.
According to earlier reports of IAA PortNews, the Prosecutor General's Office claimed to seize 43 thousand securities owned by Orneto partners LP (Scotlan) and 3.5 thousand securities owned by Dmitry Purim for the benefit of the state. In the opinion of the Prosecutor General's Office, a group of persons which includes a foreign investor, has established, in violation of the law, control over the port strategically important for the country's defense and security. According to the lawsuit, the deal was not approved by the Government Commission for control of foreign investments.
In March 2023, Arbitration Court imposed arrest on part of the Kaliningrad CSP shares as an appropriate interim measure. Kaliningrad Commercial Sea Port JSC is also banned by the court from paying dividends or remunerations to BoD members.
Kaliningrad Commercial Sea Port is located in the south-east part of the Baltic Sea, in the mouth of the Pregolia river. The port’s terminals located in the inner harbours of the city of Kaliningrad ar connected with the Baltic Sea by a 43-km long shipping canal with a width ranging between 80 and 150 meters and depth between 9 and 10.5 meters.
The company’s authorised capital consists of 100 thousand ordinary registered shares with a nominal value of RUB 1 each.
