Shareholder Robbery, Russian Style
Bernard S. Black
Northwestern University - School of Law; Northwestern University - Kellogg School of Management; European Corporate Governance Institute (ECGI)
Institutional Shareholder Services ISSue Alert, p. 3, October 1998
This short op-ed-length article discusses one instance, characteristic of Russia's stock markets in the 1990s, in which an oligarch engaged in extensive self-dealing with a controlled company, to the severe detriment of minority shareholders, ignoring both the Russian company law and the company's own charter. Shareholder attempts to seek redress in the Russian courts were dismissed on such odd grounds that corruption is the only plausible explanation. I have updated the original article slightly to reflect facts not available at the time.
Number of Pages in PDF File: 6Accepted Paper Series
Date posted: February 27, 2004
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