Tacticalweapon
03-16-2006, 22:43
This is a follow up to a past post to correct or update information on the Vepr ordeal.
Izhmash did not buy out Vepr or (Molot) instead Izhmash seized Molots assets after Molot had lost a patent infringement lawsuit which Izhmash had begun in 2003. The judgment that the Russian courts rendered against Molot caused them to be unable to pay the settlement and royalities levied against them for further Vepr production. Under Russian law because the unpaid amount was impossible for Molot to pay. Izhmash was able to seize all of Molots assets and holdings.
This action occurred on March 13th 2005.
Izhmash did not buy out Vepr or (Molot) instead Izhmash seized Molots assets after Molot had lost a patent infringement lawsuit which Izhmash had begun in 2003. The judgment that the Russian courts rendered against Molot caused them to be unable to pay the settlement and royalities levied against them for further Vepr production. Under Russian law because the unpaid amount was impossible for Molot to pay. Izhmash was able to seize all of Molots assets and holdings.
This action occurred on March 13th 2005.
