OREANDA-NEWS. On December 18, 2007 Arbitrage Court of Irkutsk region turned down the lawsuit brought by Westway Alliance Corp. against OJSC Lenzoloto and LZRK ltd., the subsidiaries of OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), reported the press-centre of Polyus Gold.

Westway Alliance Corp. (BVI), on the basis on clause 84 of the Federal law “About joint-stock companies” claimed invalidation of a transaction between OJSC Lenzoloto (the seller) and LZRK ltd. (the buyer) to purchase the shares of OJSC Pervenets, and demanded the return of the shares to the seller.

The court on its sitting decided to turn down the claims of Westway Alliance Corp. against the subsidiaries of OJSC Polyus Gold.
Note for editors:

Polyus Gold is the largest gold producer in Russia. In 2006 its gold output totaled 1,2 million ounces. Headquartered in Moscow, Polyus Gold’s operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia).