Uralkali to Seek Permission to Appeal High Court Decision in Claim Against Administrators of Force India


Proceedings were brought against Geoffrey Rowley and Jason Baker of FRP Advisory, who jointly presided over the sale of the Force India Formula One team — a process that PJSC Uralkali (“Uralkali”), one of the world’s largest fertilizer companies, alleged was flawed, misleading and negligent. The High Court handed down today its decision to dismiss these claims.

Although Uralkali is disappointed with the decision of the trial court, it is pleased that the trial confirmed a number of its prior statements, including the fact that Uralkali’s bid for the assets of Force India Formula One team was higher than the winning bid.

Uralkali intends to seek permission to appeal the decision handed down today and to continue to protect its rights in accordance with applicable legal procedures.

Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore treatment plants in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs more than 12,000 people in the main production unit.