OREANDA-NEWS. February 07, 2011. OJSC MMC Norilsk Nickel (“Company”) informs that the Arbitration Court of Moscow declared invalid the ordinance of the Federal Financial Markets Service (FFMS) requiring that MMC Norilsk Nickel remedy its failure to comply with the effective legislation when entering into interested party transactions, reported the press-centre of Norilsk Nickel.

The results of AGM held by the Company on 28.06.2010 were criticized by UC RUSAL Investment Management LLC, one of the major shareholders of MMC Norilsk Nickel, on repeated occasions, and more than once the Company, upon their requests, was subjected to intense scrutiny by controlling authorities. Following one of such performance reviews, which was carried out by FFMS, the Company received the ordinance to remedy non-compliance with the effective legislation when entering into interested party transactions.

MMC Norilsk Nickel has filed an application with the Arbitration Court of Moscow, in which the Company requested to declare invalid FFMS ordinance of 12.10.2010 No. 10-АС-04/23285 (case No. А40-146025/10-147-977).

By the decision of the Arbitration Court of Moscow dated 02.02.2011, ordinance of 12.10.2010 No. 10-АС-04/23285  was declared invalid in its entirety.