The Supreme Court will consider the dispute between Rusnano and Pharm over the sale of the property to Estonia. The economic collegium of the Supreme Court set for November 30 the dispute over the sale of the Estonian pharmaceutical plant "Kevelt", which was previously owned by PJSC "Pharm" from the Leningrad Region. The legality of the transaction is disputed by the state company Rusnano, which owns 25% of the shares of the Russian organization, following a file of arbitration cases. The deal was closed in 2024. Velvet Factory was transferred to the Chairman of the Board of Directors, at that time the CEO, Farsyntez, an Israeli citizen Dmitry Jenkin, only 225 thousand euros with the condition of a ten-year option for repurification. The sale was justified by protecting European businesses from sanctions. Rossano considered the transaction invalid and demanded the return of the property. Among the reasons for the settled prices and the irrelevant value: the sale according to his assessment of a year ago, which ended when the contract was signed. All but one of the elected board members voted to sell. At the February 2024 meeting, the agreement was supported by seven out of nine members: Genki himself did not vote due to a conflict of interest, another participant abstained. Nevertheless, the courts in the arbitration of three cases rejected Rossano's claim. They concluded that seven votes would be enough, and also counted the missing vote in favor of the deal, indicating that Jenkin himself approved it. At the same time, Velvet Estonia is in a pre-bancroft situation, and will be bankrupt in 2026, facing the threat of bankruptcy due to debts.

The Supreme Court will consider the dispute between Rusnano and Pharm over the sale of the property to Estonia. The economic collegium of the Supreme Court set for November 30 the dispute over the sale of the Estonian pharmaceutical plant "Kevelt", which was previously owned by PJSC "Pharm" from the Leningrad Region. The legality of the transaction is disputed by the state company Rusnano, which owns 25% of the shares of the Russian organization, following a file of arbitration cases. The deal was closed in 2024. Velvet Factory was transferred to the Chairman of the Board of Directors, at that time the CEO, Farsyntez, an Israeli citizen Dmitry Jenkin, only 225 thousand euros with the condition of a ten-year option for repurification. The sale was justified by protecting European businesses from sanctions. Rossano considered the transaction invalid and demanded the return of the property. Among the reasons for the settled prices and the irrelevant value: the sale according to his assessment of a year ago, which ended when the contract was signed. All but one of the elected board members voted to sell. At the February 2024 meeting, the agreement was supported by seven out of nine members: Genki himself did not vote due to a conflict of interest, another participant abstained. Nevertheless, the courts in the arbitration of three cases rejected Rossano's claim. They concluded that seven votes would be enough, and also counted the missing vote in favor of the deal, indicating that Jenkin himself approved it. At the same time, Velvet Estonia is in a pre-bancroft situation, and will be bankrupt in 2026, facing the threat of bankruptcy due to debts.