Sibir Sues Former Execs Over $325M Real Estate Debt

Law360, New York (April 7, 2009, 12:00 AM EDT) -- London-based oil company Sibir Energy PLC has launched a High Court action against two former directors over unauthorized real estate transactions the company claims left it on the hook for more than $300 million in debt, as well as allegations of stock price manipulation.

Sibir will turn over to the court an investigation it has been conducting since February into the actions of former director Chalva Tchigirinski and former CEO Henry Cameron, as well as Derbent Management Ltd. and Tchigirinski-owned Gradison Consultants Inc., regarding unauthorized real...
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