The main objector to the Sidanco bond issue has been an American-run fund manager, Hermitage Capital.

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Bill Browder used to manage billions of dollars of investments in Russia through his company Hermitage Capital.

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Mr Browder, who runs Hermitage Capital Management, is to be tried in absentia.

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His colleagues at the firm, London-based Hermitage Capital Management, say the case against him was fabricated to make him halt his investigations.

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US-born fund manager Bill Browder, who runs Hermitage Capital, spearheaded efforts in the US to put pressure on Russia over the Magnitsky case.

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And a gloomy prediction by Paul Schatz, President of Hermitage capital, saying that the stock will drop 50-70 percent, added fuel to the negative market sentiment for Apple.

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Mr Magnitsky represented London-based Hermitage Capital Management.

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Magnitsky represented London-based Hermitage Capital Management (HCM).

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According to the hedge fund and investor Hermitage Capital Management, between 1997 and 2001 the company lost 10% of its gas reserves via share dilution to partners in various joint ventures, totaling an amount equal to Exxon's entire reserves at the time.

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