The Ingosstrakh shareholder conflict (2007-2010)

It is a typical event, illustrating the issues surrounding standards of corporate governance in Russia. The PPF Investments Group consistently defends not only its own indisputable rights and corporate governance standards, but also the transparency of Ingosstrakh’s business and its compliance with Russian legislation and generally accepted international legal standards.

All our experience gained during this conflict indicates that the main objective of BazEl as a majority shareholder is to prevent the minority shareholders, who hold almost 40% of Ingosstrakh’s capital, from participation in running of the company. Where Ingosstrakh is concerned, BazEl applies wilful and wanton practices, acting clearly in the interests of the BazEl Group, which is currently having financial difficulties.

Complete and reliable information on this issue is available at the Ingoveritas site: The truth about the Ingosstrakh conflict.