Court releases Russia’s Uralkali ex-CEO Baumgertner on bail

MOSCOW, Sep 17 (PRIME) -- Russian court has released former CEO of Russian major fertilizer producer Uralkali Vladislav Baumgertner from house arrest on bail with the amount standing at 15 million rubles, spokeswoman for the court considering his case Anna Fadeyeva told PRIME on Wednesday.

“On September 1, the court satisfied a petition by the investigator to change restrictive measures for Baumgertner to a 15 million ruble bail,” Fadeyeva said.

Baumgertner was detained by the Belarusian police in August 2013, following a corporate conflict between Uralkali and Belarusian state-owned fertilizer producer Belaruskali. The local authorities accused him of abusing his powers, which caused a significant damage to Belaruskali and Belarusian Potash Company. Later extradited, he was under house arrest in Moscow.

(38.7058 rubles – U.S. $1)

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