 In March 2013 ENRC was forced to write down a US$1.5bn (£1bn) loss due largely to an "onerous" locked in contract with the Russian aluminium company, Rusal with whom they must provide aluminium at what is now below market price (Telegraph 2013).On 21 April 2013, The Sunday Times revealed that three founders, Alexander Mashkevitch, Patokh Chodiev and Alijan Ibragimov, were behind a possible takeover bid for ENRC.Following this news, three senior executives resigned, and a fourth announced a leave of absence.