United Company RUSAL (HKG:0486) (RUSAL) confirmed that on 4 April 2012, it received a request for arbitration made to the London Court of International Arbitration (LCIA) for the commencement of arbitration by SUAL Partners Ltd (SUAL) against Glencore International AG, EN+ Group Limited, RUSAL, and Oleg Deripaska (the Parties).

The dispute relates to certain shareholder arrangements between the Parties in respect of RUSAL. The shareholder arrangements provide for resolution of disputes by way of LCIA arbitration in London, United Kingdom.

SUAL alleges that certain contracts between RUSAl and Glencore were entered into (or are to be entered into) in breach of the shareholder arrangements between the Parties. SUAL seeks injunctive relief against RUSAL preventing it from performing the contracts, rescission of the contracts, and damages against RUSAL.

RUSAL has engaged counsel to advise it in the arbitration and will vigorously defend its position against such allegations. RUSAL does not expect its involvement in the arbitration would have any material adverse impact on its operations.

Source:chinesestock.org