[2] After the merger, Uniastrum bank owner Artem Avetisyan acquired a 32% stake in Vostochny via his Finvision Holdings.
At that time, Baring Vostok Capital Partners investment fund controlled 51.2% of Vostochny via Evision Holdings.
[7] London Court of International Arbitration (LCIA) upheld Finvision's right to execute the call option and dismissed the arguments provided by Evision Holdings.
[citation needed] The arbitration proceedings between the parties took place simultaneously with the criminal investigation of the alleged misappropriation of 2.5 billion rubles of Vostochny bank's funds by Baring Vostok top managers, including the firm's founder Michael Calvey.
[10] However, both Baring Vostok and Finvision Holdings denied such claims and admitted that the corporate dispute was unrelated to the criminal case.