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19 November, Sunday

Ufa   °

Bashkiria experts support Bashneft in court proceedings against Sistema JSFC

Economy/Business

UFA, 27 June 2017. /Bashinform News Agency/.

As guarantees for the return of funds withdrawn from Bashneft within the suit of Rosneft, Bashneft and the Republic of Bashkortostan, 31.76% of MTS shares held by Sistema JSFC and Sistema-Invest, 100% of shares held by "Group of companies "Medsi" and 90.47% of shares of JSC "BESK" were seized.

According to the plaintiffs, taking into account the considerable size of the claim and the substance of the dispute, Sistema can take actions aimed at withdrawal of its assets. Accordingly, the failure to provide interim measures will allow the defendants to dispose of their shares, including their sale to the third parties. The alienation by the defendants of their shares will make it difficult or impossible for Sistema to execute the judicial act in case of its upholding, which in turn will lead to impossibility to restore the violated rights of PJSOC Bashneft.

"I think most of the people in the republic positively assess the Bashneft, Rosneft and the Bashkir Government’s activity on recovering the financial damage inflicted to the Bashkir Fuel and Energy Complex in the period of its management by Sistema Corporation. I am glad that the Arbitration Court of the republic very carefully considers this process. Like the whole our republic, I expect that justice might finally be served, and the stolen funds will be returned to Bashneft", said Eduard Gareev, the head of the Department of Political Science, Sociology and Public Relations at Ufa State Petroleum Technological University.

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