Word: surgutã
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Harvard’s lawyer at Ropes & Gray, Robert Skinner, said that Surgut had sought to move the dispute from arbitration to Russian courts. While Surgut??s motion was unsuccessful, it is appealing the judge’s decision. The arbitration and appeal will proceed concurrently...
...March 25, Surgut??s board approved a dividend of 2.19 cents per preferred share; last year’s payout was roughly a half-cent, according to Bloomberg...
...Russian government modified its securities laws to outlaw this method of reducing dividends, prompting Surgut??s recent increase in payouts, the Boston Business Journal reported...
...certificate of ownership interest in a foreign company. In this case, each ADR represents 100 shares of stock in Surgut??or approximately $130 million in all—according to Harvard’s arbitration claim...
Because Harvard holds “preferred” shares of Surgut, it is entitled to a yearly dividend payment based on Surgut??s net profits, said Megan Kelleher, a spokesperson for Sowood Capital Management, which is handling the case on behalf of Harvard...
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