Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Court hearing on Spacecom CEO nears

Feb 01, 2006
From wire reports

TALLINN - The Harju County Court ruled on Jan. 27 to hold a closed hearing in the case against transit businessman Oleg Ossinovsky, CEO of Spacecom, in order to protect state secrets.

However, the case against Ossinovsky, who is accused of violating free competition regulations, did not begin since the defendant did not receive a Russian-language summary of the charges three days prior to the hearing, as pursuant to Estonian law.

The court adjourned the hearing until Feb. 9.

Ossinovsky is being charged on the basis of a penal code article involving a prohibition on agreements that inhibit free competition. Spacecom, part of the Russian Severstaltrans group, will also be tried as a legal entity.

Ossinovsky has denied any wrongdoing and said the case was politically motivated.

Spacecom has been in a bitter conflict with Baltic Rail Service, which runs Estonian Railway, over payments and fees on using infrastructure. The company, which was chartered with Russian capital, announced last week that last year's sales reached 537.2 million kroons (34.3 million euros), a growth of 60 percent year-on-year.

Some 147.56 million kroons in sales were generated by Spacecom's operations as a carrier on the infrastructure, while lease of fuel tank cars accounted for the biggest part, or 263.9 million kroons, spokespeople for the company said.

Sales were most strongly supported by a growth in the firm's locomotive and tank car fleet, though forwarding volumes also increased significantly, CFO Anatoly Burnosov said.

In 2005, the company carried a total of 4.75 million tons of oil products, including 431,000 tons in December.

The majority stake in Spacecom belongs to owners of the Russian transport company Severstaltrans, and the remaining shares through different companies to a number of Estonian private individuals. Ossinovsky's company, Skinest Investeerin-gute AS, owns 10 percent of the shares.
 MORE NEWS
  • What future for Aliyev?...
    Today the investigation carried out in respect to the so-called doctor Shoraz is o...
  • ‘Romance’ over for Riga travel...
    RIGA - From Aug. 7, the ferry ‘Romantika’ will no longer operate the R...
  • Bitcoin now accepted currency...
    RIGA - Commenting on the decision by Latvia’s national airline airBaltic to ...
  • MyFitness snaps up City Fitnes...
    TALLINN - Estonia’s largest chain of fitness clubs, MyFitness, has acquir...
  • Competition gathers top engine...
    RIGA - The best and brightest scientific and engineering minds in Europe have g...
  • 4G connects in Estonia...
    TALLINN - Though stores are not yet selling 4G mobile devices, by using prototy...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.