Gennadiy Bogolyubov, page-5

Raiders from the east: The oligarchs who won their case but took a battering.

http://www.independent.co.uk/news/b...-their-case-but-took-a-battering-8807681.html

Extracts from the article

Mr Justice Mann ruled that the board was wrong to impose the voting restriction but had reasonable cause to believe there was an attempted raid in progress.Mr Kolomoisky had the reputation of being a "corporate raider", someone who attacked companies by destabilising management, driving down the share price and grabbing control "without paying what the other shareholders would regard as a proper premium for their shares".

The judge said that JKX's board had understandably concluded that merely having Mr Kolomoisky as a shareholder had been scaring banks away from providing the company with loans. "Some banks openly expressed that view; others said it off the record; others did not express it, but the directors (with good reason) perceived that the Kolomoisky association was a bar to raising significant finance..."

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