VKontakte shareholders exchange lawsuits: the UCP Foundation demands compensation for Telegram, and Durov – revocation of the purchase of the shares

The conflict around the VKontakte social network entered its next stage. The parties to the conflict have sued each other for the first time today. The United Capital Partners investment fund of Ilya Scherbovich, which controls 48% of the shares of the social network, filed the first claim with the court of the British Virgin Islands. Pavel Durov, the founder of VKontakte and Mail.ru Group, the owner of 52% of the shares of the social network, are the respondents.

Alexander Bolomatov, Partner of the Law Firm "YUST", stated that the success of the counterclaim moved by P.Durov was dependent on which country’s law governed the initial agreement of the shareholders. The expert says: “As far as the lawsuit by USP goes, it is tactical, aiming at exerting pressure over Pavel Durov. The investment fund will have a hard time achieving the claim demands, but now it is able to secure the adoption of prohibition measures towards the businessman’s property”.