News

Media Statement

29.10.2019

The Mosgorsud decision to uphold the extension of house arrest for Michael Calvey and Philippe Delpal, is unfounded. The courts continue to ignore evidence of our colleagues’ innocence and the absence of a crime as such: Vostochny Bank received high-quality assets that were complementary to its business at a market price. This was confirmed by an expert valuation of the shares commissioned by the investigator, as well as by a binding offer from the market to purchase the shares.

Even more outrageous is the fact that our colleagues Ivan Zyuzin, Vagan Abgaryan and Maxim Vladimirov remain in detention centres, while Michael and Philippe have been placed under house arrest. It is deeply surprising to see the courts adopt different forms of pre-trial detention against defendants in the same case, leaving the three Russian citizens in jail as though they were hostages.

If their form of pre-trial detention remains unchanged, Ivan, Vagan and Maxim could remain in prison during the entire period of the trial, which could drag on for years. The corporate raiders who are behind this case have shown they will stop at nothing to further their commercial interest, even when the result is innocent people spending nearly 9 months in jail without the right to communicate with their relatives, including their own small children.

For further information, please contact:

Alexandra Astapenko
EM
+79163414148
bvcp@em-comms.com

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