Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Rothschild-Founded ARMS Wins $173 million Arbitration Against Former Director

Nathaniel Rothschild

 

Asia Resource Minerals, formerly called Bumi, has won $173 million back from Rosan Roeslani, its former director, as reported by Yahoo Finance. ARMS, when it was still called Bumi, fell apart over disagreements with its co-founder, Nathaniel Rothschild and Bakrie Group, based in Indonesia. Rothschild said he will underwrite a rights issue, although ARMS recently returned $465 million to shareholders.

Rosan Roeslani must pay back everything he owes ARM plus interest and legal costs. His assets include a stake in the Inter Milan football club, two chateaux in France, a golf club in Spain and a house in Beverly Hills. Shares of ARMS jumped 250% on news of the successful arbitration. Roeslani promised to repay the amount last December to the troubled mineral company, an amount that disappeared from a subsidiary of ARMS’. Attorneys for ARMS have secured a legal ruling to freeze some of Roeslani’s assets, including his chateaux in France.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.