Avetisyan’s firm demands arrest of 9.99% in Orient Express Bank

MOSCOW, Mar 22 (PRIME) -- Artyom Avetisyan’s Finvision Holdings, a shareholder of Orient Express Bank, has asked court to arrest 9.99% of shares of the bank belonging to Evison Holdings Limited, which represents interests of fund Baring Vostok, according to the documents seen by PRIME on Friday.

The Arbitration Court of the Amur Region registered the request, sent in the framework of a case where Finvision demanded that Evision fulfill a 2016 call option on this stake, on Wednesday.

Finvision demands that executives of Evision be barred from placement of additional shares. Evision holds a 51.62% stake in Orient Express Bank, and the stake of Finvision is 32.02%.

The court has scheduled the hearing for March 25.

Baring Vostok earlier complained about Avetisyan, Sherzod Yusupov, and Finvision Holdings to the Russian Union of Industrialists and Entrepreneurs. Yusupov holds 4.88% of voting shares in Orient Express Bank. A criminal case against Baring Vostok founder Michael Calvey and several other defendants was opened on Yusupov’s request. Calvey believes that his detention was caused by a shareholder conflict with Avetisyan.

In February, the Basmanny District Court of Moscow arrested Calvey and five other defendants for two months over an alleged 2.5 billion ruble embezzlement from Orient Express Bank.

(63.7420 rubles – U.S. $1)

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