Brunswick Rail Group Limited ("Brunswick") and Alexander Genin, Brunswick’s former CEO, today confirmed that they have settled in full the disputes between them which had given rise to arbitration proceedings in London: each side had filed claims and counterclaims, which have now been amicably resolved.
As a result of this agreement, neither Brunswick nor Mr. Genin has any further claims against the other. The subject matter of the arbitration and its settlement are of a financial nature and each wishes the other every future success.
About Brunswick Rail:
Brunswick Rail is a private railcar operating lessor providing freight railcars to large corporate clients in Russia. Established in 2004, Brunswick Rail currently owns a fleet of ca. 25.6 thousand railcars (as of 31 March 2017), which represents approximately 2% of the total Russian railcar fleet.