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In an extraordinary Award announcement, a chain of allegations were made against administrators of annual international, including corruption, nepotism and excessive remuneration.

Claims will add to concerns about AIM, corporate governance London junior market.

CIG is worth about 250 m ￡ and develops residential systems top retail range in Moscow and the surrounding area. He floated on AIM in December 2006.

Synergy Classic took a 22 25pc stake in the company in may after the subscription a placement of 90 m $ (￡ 57 m). However, in a letter to the shareholders Monday, Petr Shura, head of Synergy, called for a general meeting of emergency after "sudden and unexplained quit" Glenn Aaronson and Rafael Eldor as independent directors of CIG in the past three weeks.

Mr Shura alleges that Boris Kuzinez, Chief Executive and Jacob Kriesler, President, used funding to boost their earnings by $3. 9 m, violating the terms of the agreement.

Mr. Kuzinez and Mr. Kriesler are co-owners of Holdings Commercial, a shareholder of annual 40pc. In his letter, Mr Shura claims annual is "unduly influenced" by attending and "not work anywhere near way approaching acceptable standards for a company quoted on the London Stock Exchange aim market.

Mr Shura says when it management to their compensation, M. Kuzinez said he needed money "in exchange of bribery that it should give".

Synergy alleges that the annual runs up to "substantial costs" operating an Office in Israel, live well Kuzinez, family is that none of the development projects in the region, and the management wanted to pay the wife of Mr. Kuzinez $500,000 for executing development main project CIG, Tsvetnoy Mall. The letter argues the wife of Mr. Kuzinez has "no previous management experience in this highly specialized" and the shopping centre open up 30pc empty and with "virtually no base rents payable by the tenant.

Mr Shura, who is a member of the IRG Board said expresses its concerns about the company meetings, but annual won an injunction before the High Court of London by preventing sharing comments. The injunction was released last month.

Mr Shura calls for a vote on the removal of three directors, including Mr. Kriesler EGM and require that the company has an odd number of Directors, with the majority being independent.

He added: "I believe that it is essential that all shareholders have the opportunity to elect an improvement Committee to act independently on behalf of all shareholders and to ensure that appropriate standards are implemented and maintained.

CIG has refused to comment.

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A shareholder of thin attended meeting in London, BA Chairman Martin Broughton revealed that more investors 99pc company - including proxy - voters have approved the agreement.

Shareholders of Iberia also voted a reciprocal meeting in Madrid to create International Airlines Group (AIG) - carrier mixing strengths of BA on the North Atlantic with Iberia's Latin America to operate a combined fleet of 406, carrying passengers 57.5 m per year.

A registered holding company Madrid - International Consolidated Airlines Group - sitting above AIG will be which possess the BA and Iberia.Ils operating companies will protect their brands, national indentities and rights of flights and is headquartered in London.

Willie Walsh, CEO, BA will have the same role at Geneva International Airport - whose name replace BA on the screens of the stock exchange where the shares of the merged company start deals on January 24.

Despite the resounding vote in favour, he had a dissent QE2 at Westminster, conference centre where only about 80 shareholders have speech.

John Farmer, a pillar of the meetings of the shareholders, charged the jury to make a "tactical" error accepting an organizational structure that has ensured that all PGI investor meetings took place in Madrid - today is the last these reunions to United Kingdom shareholders of BA.

Martin Broughton, President of BA struck back saying that by admitting Madrid registration transaction, convinced of Iberia requires that the agreement appears to be a merge, not a takeover by the airline UK.Dans taken control, suggested Mr. Broughton, Iberia would have demanded a "premium", leaving the shareholders of BA with less than the combined group that they now have 56pc.

"I think it is better to have operational headquarters in the residence of the United Kingdom and the tax in Spain vice versa", added Mr. Broughton.

Requested by another shareholder if he believed that it was "good moment to have a merge" with Iberia, taking into account the economic problems of the Spain Mr. Broughton answered with a single word answer: "Yes."

Some shareholders employee wondered how BA could move forward with the agreement while he was still in conflict with its cabin crew. "This dispute is a problem of BA entièrement.Il is not affected by the merger, "said Mr. Broughton."

Cabin crew Union Unite should make an announcement this afternoon, which many believe will be a call for a new strike ballot.

After that meeting, Mr. Walsh has reiterated its conviction that Geneva International Airport would be a means of further consolidation in the airline industry, but had nothing to add to his comments surprised had compiled a list of prospective supported target 12 September.

BA shares slipped 0.3 percent 271.6 trade afternoon at the beginning.

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Transformed from a group of disparate recreation was still hung on his past as a brewery in targeted budget hotel, restaurants casual and business coffee, his time as head of the 268-year-old company was certainly something to be grilled.

Fittingly, the place was Marriott County Hall, which, although no longer a Whitbread property, has been renovated after standing empty for 10 years Parker when he was head of the division of hotels.

As Parker himself pointed out in his speech of retirement, when he joined first Whitbread in 1992 the country was led by a Conservative Government, had just the Gulf war and was in a récession.Comme went note, although some things change, some things remain the same, with all these dominant factors now.

But as he moves to new pastures and pluralistic life - within a week after it takes place on 25 November, there the meetings of the Council for its variety of non-executive roles in Dubai, Paris and Barnstaple - what will become of the FTSE 100 valiant?

On the part of the President, Anthony good customers and new Chief Executive, Andy Harrison, formerly of easyJet, it is certain that future society, at least in the short term is defined.

Harrison comes from a company focused on the client with a focus on costs, and when it comes to his take on the Whitbread is likely to be evolution rather than revolution.

Habgood is a strong Chair with a clear interest in the company - after spending most of the week last in China on the trade mission of the Prime Minister to boost the ambitions of the Costa coffee in the country - and should be applauded for its stewardship of the company in the past five years, which has facilitated the growth of Parker stewardship.

But as exit Parker poignancy times should be used not only to look back, but in haste.

Some quietly questioned if function Thursday evening Whitbread we have know it remains intact, or if the reign of Harrison, rather like Parker day will be remembered for arguments with shareholders.

Although Whitbread investors are sitting quite-￡_100 invested in Whitbread in 2004 is now worth ￡ 270 - shareholders did not tend to remain filled for longtemps.Si Harrison can keep strong yields, the status quo will permise.Si this is not the case, don't be surprised if vultures start circles.

Dan Akerson, CEO of General Motors and its equipment to the team for their pre - IPO, visit in London tomorrow, life raft in the town of institutional investors wait in wells to hear the pitch of the car manufacturer.

The basic message, of course, will be that this time be différent.Gros debt crippiling once become society - through of last year and a chapter 11 bankruptcy process pieces exchange debt actions - and with a new management team in place and a resurrected with emphasis on key markets strategy, GM is clearly a proposal of different investment it was again this time two years ago.

Many who hear Akerson height will be knees it until and, as the Pope is close, will be sign up for a slice of equity .but some investors like the proverbial elephant, never forget and will not be easily persuaded to sign a second time.

Yes, it was a company is swamped by his pile of debt (￡ 38bn) $62bn and something was arriver.Mais if the agreement which has been enacted - which saw the United States and Canadian Governments take on 61pc GM equity again to finance restructuring - was fair for all is a moot point.

GM of somewhat miraculous return to the form - that it had given benefit issuers $ in his recent third quarter - and its expected return to public procurement, even if it is positive for its workers, only will not greeted by everyone, especially shareholders are cancelled first autour.

James.Quinn@Telegraph.co.UK

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