Arab Today, arab today court reopens 13 bln claim against bp
Last Updated : GMT 04:19:01
Arab Today, arab today
Arab Today, arab today

Court reopens $13 bln claim against BP

Arab Today, arab today

Arab Today, arab today Court reopens $13 bln claim against BP

Moscow - Ria Novosti

A Siberian court has ordered the reopening of a $13.6 billion lawsuit filed by minority shareholders in BP’s Russian venture TNK-BP against the British oil major BP, over its failure last year to finalize a $16 billion share swap deal with Rosneft. The Federal West-Siberian Commercial Court ruled on Monday a repeal of previous rulings which dismissed as unfounded the claims by TNK-BP minority shareholders that their interests were infringed by BP\'s failed Arctic shelf development deal with Rosneft, as TNK-BP could have participated in the projects. The decision comes at a time of intensified shareholder conflict between the TNK-BP core shareholders and BP’s announced plans to sell its 50 percent stake in Russian joint oil venture, which could lead to the divulging of confidential information on the venture, including operational data, sales contracts, capital expenditure plans and other information. BP has denied causing any damage and said the court decision could be the result of “corporate news,” Kommersant business paper reported on Tuesday. TNK-BP CEO Mikhail Fridman resigned from his post in late May over what he said was “management paralysis” in the joint venture. BP and the Russian partners in the AAR consortium have been locked in a long-running dispute over management of their Russian joint venture, which included the replacement of the former TNK-BP CEO Robert Dudley in 2008. That conflict, which went on for three months, and ended with Dudley resigning and leaving Russia, was followed by another spat over whether BP was entitled to participate in a joint venture with Russia’s biggest crude producer, Rosneft, to explore and develop Russia’s Arctic shelf deposits. BP lawyer Konstantin Lukoyanov said the court’s latest decision could damage Russia’s investment climate. “Today’s judgment … casts doubt on the ability of the domestic judicial system to create a predictable and effective legal environment,” he said. Dmitry Chepurenko, a lawyer representing the interests of TNK-BP minority shareholders, said he was satisfied with the court’s decision, as “the case has been sent for a new hearing.”

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today court reopens 13 bln claim against bp Arab Today, arab today court reopens 13 bln claim against bp

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today court reopens 13 bln claim against bp Arab Today, arab today court reopens 13 bln claim against bp

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday