Head of FBK Legal?s corporate practice, Alexander Ermolenko on the conflict between shareholders of Bank of Moscow
Head of FBK Legal’s corporate practice, Alexander Ermolenko in his interview to the radio station Vesti FM commented upon the news that the head of Bank of Moscow, Andrey Borodin suggested the head of VTB a “Texas” duel as a way to resolve the conflict of shareholders of Bank of Moscow. This means that one of the shareholders submits an offer to another one, and if the latter refuses he receives the right to buy out the assets of the second party according to the price offered. “Texas shoot out” is a mechanism which lets the parties find the average market price, mutually acceptable for both. So, speaking just in market terms, it would be better if they did it exactly so”, Ermolenko commented.
