Moscow court starts proceedings over Sistema’s suit vs Rosneft

MOSCOW, Dec 18 (PRIME) -- The Moscow Arbitration Court has launched proceedings over a 330.4 billion ruble suit filed by multi-industry holding Sistema against oil companies Rosneft and Bashneft, according to the register of arbitration cases seen by PRIME on December 16.

The court scheduled a preliminary hearing of the suit for January 16.

Sistema said in a statement December 8 that it planned to sue Rosneft and Bashneft for unjustly enrichment in 2017 during litigations with Sistema. The holding said it is still ready for amicable settlement of the conflict.

In August, the Arbitration Court of Bashkortostan partially satisfied a 170.6 billion ruble suit filed by Rosneft, Bashneft and the republic of Bashkortostan, where Bashneft is located, to charge Sistema and its affiliate Sistema-Invest for the losses allegedly caused to Bashneft in 2014 during its reorganization. In 2014, Sistema was the core owner of Bashneft.

Later, the Bashkortostan court ordered Sistema to redeem 136.6 billion rubles to Rosneft under the suit, but both companies appealed against the decision – Sistema wanted to void the redemption, while Rosneft wanted the court to satisfy the suit in full.

On December 7, Rosneft and Bashneft filed another 131.6 billion ruble suit against Sistema seeking to recover the sum that Sistema received in dividends from Bashneft during the period of ownership over the company.

(58.8987 rubles – U.S. $1)

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