In Russia, Winning does not Guarantee Victory
In February of last year, we reported on how a Norwegian company called Telenor was locked in battle with a Russian company called Storm LLC, proxy for a Russian firm called Altimo, itself a proxy for a Russian congolmerate called Alfa Group, over control of a Ukrainian telecommunications enterprise called Kyivstar GSM. As is the usual thing, the Russian company was playing dirty, and the Norwegians turned to the American legal system for help, notching a big victory over the Russian side.
The Russians responded by launching a billion-dollar lawsuit against Telenor in an obscure Siberian court using a proxy entity called Farimex over shares held by Telenor in the Russian telecom giant VimpelCom.
Now Telenor’s website reports the following: