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There is no express reference in the stockholders’ agreement to
Crocus or its role in putting on trade shows.
From 1990 through July 31, 1996, Crocus’s business
activities included organizing, marketing, and presenting trade
shows and exhibitions in the former Soviet Union. During this
period, Crocus also engaged in other unrelated business
activities.
During 1994, 1995, and 1996, Crocus maintained offices in
Moscow; Crocus did not maintain an office or transact business in
the United States. During 1994, 1995, and 1996, petitioner
maintained no office in Russia.
Petitioner and Crocus leased exhibition space and facilities
for trade shows from Expocentr, a Russian joint-stock company.
Expocentr owned or controlled the Krasnaya Presnya exhibition
complex in Moscow where many trade shows were held.
From 1990 through July 31, 1996, petitioner and Crocus had
no written agreement governing their business or financial
relationships. At all times relevant, neither petitioner nor
Crocus controlled how the other conducted its business
activities. At all times relevant, petitioner and Crocus were
free to compete against each other in the trade show business.
However, no foreign trade shows were organized by either
petitioner or Crocus unless both petitioner and Crocus agreed to
put on the trade show.
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Last modified: May 25, 2011