Hermitage Capital Management, the $1 billion British hedge-fund firm run by William Browder, has gone to federal court in the United States seeking evidence linking Renaissance Capital Holdings to an alleged scheme to defraud the Russian government of $230 million.
Hermitage Capital Management, the $3 billion hedge fund run by William Browder, says it is a victim of corporate identity theft, according to legal filings sent to prosecutors in Russia and the Channel Islands. Hermitage says the attack began with an inquiry by Moscow tax officials into a Cyprus-based account it managed. Last June, Interior Ministry investigators raided the Moscow offices of Hermitage and its lawyers at Firestone & Duncan, according to court filings by a unit of HSBC Holdings, the trustee and administrator of the fund. They took Hermitage's corporate seal, tax registration and charter, according to the filings.
Total, Europe's third-largest oil company, will cancel plans to buy 25 percent of Novatek if the Russian natural gas producer offers shares to the public, a failure that would threaten Total's output growth targets.
Total, Europe's third-largest oil company, is in talks with several Russian companies about the potential for new oil and gas projects, said Christophe de Margerie, the company's head of oil exploration.