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Arbitrators Tackle Russian Corruption in Fight Over Cell Phone Operator

In a case pitting Russian conglomerate Alfa Group Consortium against a Bermuda investment vehicle, IPOC International Growth Fund Limited, the prize was a stake in Russian cell phone operator OAO MegaFon worth up to $2.5 billion. The case was rife with allegations of spy-like tactics, but the arbitration will be remembered as the first where arbitrators evaluated a party's criminality. A Zurich panel found that IPOC was a vessel for Russia's minister of telecommunications to launder stolen money.

This entry was posted on Wednesday, June 20th, 2007 at 12:38 pm and is filed under Lawyer - News.

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