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19 October, Friday

Ufa   °

Sistema filed lawsuit against Rosneft and Bashneft for 330 billion rubles of damages

Economy/Business

UFA, 8 December 2017. /Bashinform News Agency, Galina Bakhshieva/.

Sistema JSFC filed a lawsuit with the Moscow Arbitration Court against Rosneft and JSOC Bashneft for damages of 330.4 billion rubles.

As reported on the Sistema website, during the year of 2017, Rosneft and Bashneft have taken and continue to take actions seeking for unjust enrichment and "destroying the corporate value of Sistema, bring the Corporation to bankruptcy," damage to the corporation, its shareholders and creditors.

Therefore, Sistema JSFC is forced to apply to the court "with a claim for compensation for the damage caused".

At the same time, the Sistema confirms the previously stated "readiness for an early settlement of the conflict on an honest and objective basis in the interests of all parties to the dispute and the Russian economy as a whole," the Corporation said.

As reported by Bashinform News Agency, Bashkiria announced support for the claims of Rosneft and Bashneft to Sistema JSFC for recovery of 131.6 billion rubles of dividends received by the corporation during the Bashkir company's ownership from 2009 to 2014.

In early December, Rosneft and Bashneft filed a new lawsuit against Sistema JSFC on recovering 131.6 billion rubles in dividends received by the corporation from 2009 to 2014.

Rosneft has attracted the Russian Direct Investment Fund (RFPI) as an intermediary for a peaceful settlement of the dispute with Sistema, but the efforts have not yielded positively.

In August, the Arbitration Court of Bashkiria partially satisfied the first lawsuit of Rosneft against the corporation, having decided to recover 136.3 billion rubles from Sistema. However, the parties filed appeals.

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