Developer RGI, Investor End $99M Share Sale Fight

Law360, New York (July 23, 2012, 3:52 PM EDT) -- RGI International Ltd. has settled a dispute with investment firm Synergy Classic Ltd. over a $99 million share sale option, following a U.K. court's ruling in RGI's favor in December, the Moscow-focused residential property developer said Monday.

The nonmonetary settlement resolves all outstanding claims between Guernsey-based RGI and British Virgin Islands-based Synergy, which owns about 24 percent of RGI and had alleged that an investment agreement gave it the right to exercise a $99 million option to sell RGI shares.

The deal also puts to bed...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.