June 24, 2015 at 13:32Despite allegations of breach of shareholder agreement, co-owners of Biglion launched a competing service
Ex- Biglion employees have launched the rival Kupanda service . Sources familiar with the progress reported that the project was created with the participation of Biglion co-founder Oleg Savtsov. Co-owners of Biglion accused him of violating the shareholder agreement.
Kupanda offers discount coupons for visiting restaurants, beauty salons, medical complexes and entertainment companies, as well as bonuses for buying tickets to cinemas and booking seats in Russian hotels, said a representative of the project operator Timur Aitov.
Oleg Savtsov, together with his wife Irina, own 33.4% of the Biglion service. In addition, Savtsov is a co-founder of Costmart trading service .. Biglion and Costmart claimed a contract for the delivery of goods from the Russian Post online platform. As a result, he went to Costmart.
“The actions of Oleg and Irina Savtsov violate the shareholder agreement, which stipulates that Biglion shareholders cannot simultaneously develop their competing business. Both businesses, both Costmart and Kupanda, were created using Biglion’s assets, ”says Vladimir Vinogradov, co-owner of Biglion. The representative of ru-Net fund Leonid Boguslavsky, who is also a co-owner of Biglion, shares this position.
Savtsov may be prosecuted through the courts. “If we turn to Russian practice, the provision on non-competition will be very difficult to apply. In order, for example, to claim compensation for losses as a result of sane actions, you will have to not only prove that such losses occur, but also somehow calculate them. In Russian practice, such cases are negligible, ”says Mikhail Alexandrov , partner at A2 Law Firm .
About a year ago, Vladimir Vinogradov, ru-Net and the American hedge fund Tiger Global Management proposed closing the business selling clothing, home goods and electronics. Together, they own a 66.6% stake in Biglion. The Savtsovs opposed.
The co-owners have repeatedly shown their intention to buy back the shares from the Savtsovs. “The Savtsovs were not satisfied with the price,”explained to Kommersant on ru-Net.
Kupanda offers discount coupons for visiting restaurants, beauty salons, medical complexes and entertainment companies, as well as bonuses for buying tickets to cinemas and booking seats in Russian hotels, said a representative of the project operator Timur Aitov.
Oleg Savtsov, together with his wife Irina, own 33.4% of the Biglion service. In addition, Savtsov is a co-founder of Costmart trading service .. Biglion and Costmart claimed a contract for the delivery of goods from the Russian Post online platform. As a result, he went to Costmart.
“The actions of Oleg and Irina Savtsov violate the shareholder agreement, which stipulates that Biglion shareholders cannot simultaneously develop their competing business. Both businesses, both Costmart and Kupanda, were created using Biglion’s assets, ”says Vladimir Vinogradov, co-owner of Biglion. The representative of ru-Net fund Leonid Boguslavsky, who is also a co-owner of Biglion, shares this position.
Savtsov may be prosecuted through the courts. “If we turn to Russian practice, the provision on non-competition will be very difficult to apply. In order, for example, to claim compensation for losses as a result of sane actions, you will have to not only prove that such losses occur, but also somehow calculate them. In Russian practice, such cases are negligible, ”says Mikhail Alexandrov , partner at A2 Law Firm .
About a year ago, Vladimir Vinogradov, ru-Net and the American hedge fund Tiger Global Management proposed closing the business selling clothing, home goods and electronics. Together, they own a 66.6% stake in Biglion. The Savtsovs opposed.
The co-owners have repeatedly shown their intention to buy back the shares from the Savtsovs. “The Savtsovs were not satisfied with the price,”explained to Kommersant on ru-Net.