Dmitry Bosov’s heirs challenge in court transfer of 43.3% in Alltech Group to Katerina Bosov

On October 05, 2020 heirs of Dmitry Bosov, namely his mother and children from his first two marriages, challenged in court the transfer of half of his share (43.3% out of 86.6%) in Alltech Group to his widow Katerina Bosov.

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The rest of the Group’s shares belong to Dmitry Bosov (the remaining 43.3%, which should be distributed among all heirs in November), Alltech’s CEO Dmitry Aga (7.9%) and two members of the company’s Board of Directors Igor Makarov (3.16%) and Oleg Shemshuk (2.37%).

The ground for contesting the deal is the foundation of Alltech Group by Dmitry Bosov before his third marriage. The heirs refer to the rule of law, according to which, they have equal rights to assets, acquired or established before the third marriage, on a par with the widow of Dmitry Bosov.

Nevertheless, Katerina Bosov intends to increase her share to gain controlling stake in Alltech Group. Katerina Bosov filed a lawsuit in court, the essence of which is that her share in Alltech is not 43.3%, but 77%, according to the statement of her representative. In addition, she owns 50% of another asset of Dmitry Bosov – VostokCoal company.

The former co-owner and ex-CEO of VostokCoal (part of Alltech Group) Alexander Isaev tries to regain his stake in VostokCoal in court (see CAA Russian Coal Weekly dated August 28, 2020).

Alltech Group owns Sibanthracite Group, the largest Russian anthracite producer. In 2019, Sibanthracite Group produced 23.7 mio t of coal. According to Forbes, in May 2020, Dmitry Bosov’s fortune was estimated at 1.1 billion USD with Sibanthracite specified as the main asset of his business.

In August, Katerina Bosov claimed Alexander Isaev and a group of Elga investors orchestrated a raider attack on Sibanthracite (see CAA Russian Coal Weekly dated August 07, 2020).

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