OREANDA-NEWS. March 22, 2010. The Bank of Moscow has introduced a new functional into its Internet banking system — "Unit-holder’s office".

Unit-holders of MC Bank of Moscow can now perform a number of operations remotely: receive information about the number of units in funds of MC Bank of Moscow acquired by the unit-holder, receive information about the current yield on the Unit Investment Trusts, and receive statements on operations performed and detailed reports.

The latest plans of MC Bank of Moscow are for realising the possibility of paying on line for units of Unit Investment Trusts managed by MC Bank of Moscow and for introducing an opportunity to accept applications for purchase of units.

"By setting up the Unit-holder’s Office, we are striving to offer our clients a maximally technological service", commented Elena Kasyanova, General Director of MC Bank of Moscow. With the introduction of the new service, unit-holders will save time and obtain an opportunity rapidly to manage their assets on the mutual investment market".
OREANDA-NEWS. March 11, 2010. Acron has reported that the Moscow Arbitration Court has honored a lawsuit from Dorogobuzh (of Acron Group) and obliged Silvinit to conclude an agreement with Dorogobuzh on the terms of a draft agreement presented by the consumer. The draft agreement contains a pricing formula that envisages annual adjustments in potash prices in line with Russia’s PPI for the previous year. The price for 2010 was set based on the 2009 price multiplied by Russia’s PPI index for 2009. The annual volume of potash delivered is 150,000 tons.

According to the information received from Acron, another, similar lawsuit against Silvinit is now in court, but for technical reasons, the lawsuit lodged by Dorogobuzh was to be heard first.

On the face of it, the news is very positive for independent compound fertilizer producers, which are sensitive to raw material prices. This primarily holds true for companies that have no in-house resource bases, namely, Acron, Dorogobuzh and UralChem. However, we are not inclined yet to overestimate the significance of this news.

This is just a first court ruling and it has not been ruled out that Silvinit will appeal against it in higher courts, in which case litigation could drag out for a year or more. Until a court of last resort hands down its verdict, Silvinit has the right not to conclude the contract on the terms upheld by the first instance court.