MOSCOW, July 30 (Reuters) - Mid-sized Russian oil firm Timan Oil said on Thursday that businessman Vitaly Belik has taken control of the London-listed company, marking the latest firm to be seized for its debts amid the financial crisis.
Belik has amassed a stake of 56.36 percent, Timan said in a statement, opening the door for him to oust five of its directors at an upcoming shareholders' meeting, where he would now have the majority vote.
Belik's Redbell investment unit bought a 13.88 percent stake in Timan from Credit Suisse this month, and quickly called an extraordinary shareholders' meeting to propose the removal of the directors and the nomination of Belik to the board.
Timan is to give notice of the shareholders' meeting by Friday.
In June the company said its core owner, Alexander Kapalin, had received a notice of debt default. As a result, ownership of around 48 percent of its shares could pass to Redbell, it said.
Kapalin said at the time that Belik represented National Reserve Bank, which is owned by Russian banking and industry magnate Alexander Lebedev, who owns London's Evening Standard newspaper.
Belik's takeover of Timan follows a trend of heavy debts forcing Russian oil companies to cede control of their assets.
Since the financial crisis struck Russia, Urals Energy has given up its main production units to state-controlled lender Sberbank, which is also holding large stakes in Sibir Energy as collateral.

(Reporting by Simon Shuster; Editing by David Cowell) Keywords: RUSSIA TIMAN/ (simon.shuster@reuters.com; +7 495 775 1242)

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