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Maxi-Group Head Detained

Maxi-Group founder Nikolai Maximov was detained by police in Moscow in connection with a legal dispute involving Novolipetsk Steel, according to his lawyer, Leonid Matveyev.

Maximov sold Maxi-Group, operator of mini steel mills in the Ural Mountains, to Novolipetsk in 2007. The parties have been fighting over completion of payments and the repayment of Maxi-Group's debt. Novolipetsk didn't request Maximov's detention, said a spokesman for the company.

(Bloomberg)


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