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- Former Russian Prime Minister Mikhail Kasyanov has proposed the creation of an international bank with a charter capital of euro5-euro6 billion ( US $ 6.08-US $ 7.3 billion ) that would invest in European oil and gas pipeline projects, the Vedomosti daily reported Monday.
- Peter Westin, chief economist at the Aton investment bank, said the government's involvement was a case of " better late than never, " but came after years of inaction in a sector where one-third of the banks have less than the 1 million euros charter capital required by law.
- This is especially true in Russia where the abnormally excessive legal and bureaucratic challenges facing prospective entrepreneurs typically dissuade most from starting a JSC . Without the need to issue shares in a private limited company, it makes private limited companies much more flexible when the need arises for members to change the charter capital of the company.
- In January 1997, 70 % of the assets of Atommash were transferred to EMK-Atommash JSC . Atommash OJSC contributed its liquid assets ( fixed assets, current assets, intangible assets ) and production assets to the charter capital of EMK-Atommash JSC . Illiquid assets ( construction in progress, industrial sites, railways, etc . ) remained on the balance sheet of Atommash OJSC . After that, EMK-Atommash JSC stock was transferred to EMK JSC.