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Baring Vostok considers extension of Michael Calvey's house arrest unreasonable

The organization also noted that it will continue to uphold the legal rights of its employees

MOSCOW, January 9. /TASS/. The Baring Vostok private equity firm, founded by Michael Calvey, considers the court decision to extend the house arrest of Calvey and his colleagues unreasonable, the firm’s press service informed TASS.

"We consider it unreasonable to extend the preventive measure for Michael Calvey, Philip Delpal and Alexander Tsakunov," the official with the firm said.

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Moscow court extends US financier Michael Calvey’s house arrest until February 13

The organization also noted that it will continue to uphold the legal rights of its employees.

Earlier on Thursday, Moscow’s Basmanny Court prolonged the house arrest of Michael Calvey, the founder of the Baring Vostok private equity firm, who is accused of embezzlement, until February 13.

By the same ruling house arrest was extended for of the Baring Vostok’s partner Philip Delpal, former director of Vostochny bank Alexei Kordichev and former director for investments of Vostochny bank, Alexander Tsakunov.

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