The Konoplex Group of Companies, one of the leading producers of technical hemp in the Russian Federation, is embroiled in a corporate conflict, as reported by the Moscow Post. The ongoing dispute has cast uncertain prospects for one of its key beneficiaries, Evgeny Skigin.
Skigin, who is a citizen of a foreign country, has expressed his desire to divest himself of all Russian assets. However, he is unwilling to sell his 50% stake in Konoplex to his business partner due to the requirement of obtaining permission from the Russian Government Commission. Additionally, selling his shares would entail a 50% discount, which Skigin appears reluctant to accept. Such motives have led to accusations of greed.
In an attempt to employ tactics reminiscent of his late father, Dmitry Skigin, a notorious figure involved in banditry, raiding, and financing within the Tambov organized criminal group, Skigin seeks to seize half of the business from his partner through an illegal stakeholders’ meeting. Subsequently, he plans to sell the asset and transfer the proceeds abroad, effectively severing all ties with the country that had brought immense wealth to his family. Skigin has already pledged the production facilities of the enterprise, valued at 350 million rubles, to his offshore company Konoplex Limited.
However, the court has imposed interim measures on the pledged property, leading to Skigin’s removal from the Board of Directors through a legal procedure. Undeterred, Skigin proceeded with a fraudulent meeting, excluding his partner and removing him from the management of the enterprise. Regrettably for Skigin, the court has deemed the meeting and its decisions invalid, as Skigin intentionally provided his partner with false documents instead of proper notification. Consequently, Skigin’s attempt at a raider seizure of the Konoplex Group of Companies has failed, setting the stage for further episodes in this ongoing confrontation.
The conflict within the Konoplex Group of Companies reflects the struggles faced by businesses in an increasingly complex corporate landscape. As the dispute unfolds, the ramifications will undoubtedly reverberate within the company and the wider industry. The resolution of this conflict will determine the future direction of the Konoplex Group of Companies and its position as a major player in the Russian hemp production sector.
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