Yekaterinburg Chkalovsky District court rejected the prosecution’s demand that founder of Maxi Group Nikolai Maksimov be detained. The entrepreneur was released on a 50-million-rouble bail.

Maksimov will now have to stay in Yekaterinburg to help complete the investigation by law-enforcement authorities. This done, he’ll take off for Moscow, where his official residence is. The businessman promised to come to Yekaterinburg any time the court or the investigative authorities ask him to do so.

Maksimov explained why he came to Russia from abroad where he had been staying.

‘I came for justice,’ he said.

Nikolai Maksimov was detained in Moscow by the officers of Sverdlovsk Region investigative department after a press conference at Marriott Hotel. The reason given for detaining the man was that he allegedly went into hiding. Maksimov denied the allegation from the start. At court sessions on February 10 and 11 the court couldn’t seem to decide whether to sustain or reject the prosecution’s claims. The decision was taken today.

Maksimov’s official representatives are positive that his detention is directly related to a clash with NLMK (Novolipetsk Iron & Steel Works) and its owner Vladimir Lisin.