Kyrgyzstan’s government has reclaimed ownership of ElCat, a company formerly owned by Maxim Bakiyev, the son of ex-president Kurmanbek Bakiyev, according to the Kabar news agency, citing Dayirbek Orunbekov, a spokesman for the presidential administration. The company is valued at approximately $69 million.
«In 2007, former presidential office employees Zakirali Kenzhebaev, Sergey Shmelev, Konstantin Levinets and Mikhail Dudin made a deal with Maxim Bakiyev, which led to the presidential office being illegally removed from the company’s list of incorporators through court decisions. As a result, control of ElCat was transferred to Bakiyev’s associates. Since then, the...