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RBC, 29 Oct 1999, Moscow 10:31:19

State To Restore Its Ownership On Lomonosov Porcelain Factory (Izvestiya Newspaper)


The State is going to restore its ownership of the Lomonosov porcelain factory, which had been privatized earlier, the Izvestiya newspaper reported. This process will start as soon as the corresponding decision of the Saint Petersburg arbitration court comes into force. In view of this, the Ministry of State Property will apply to the court with a request to work out a schedule of the deprivatization. The damage to the factory's shareholders is not planned to be reimbursed. The shareholders of the Lomonosov porcelain factory can, however, apply to the court to demand the losses indemnification.