Sistema asks court to delay hearing of Rosneft's case for month

UFA, Aug 18 (PRIME) -- Multi-industry holding Sistema has asked the Arbitration Court of the republic of Bashkortostan to postpone hearing of a 170.6 billion ruble case filed by oil major Rosneft for a month for a possible amicable settlement and to study new evidence provided by the complainant, according to information obtained by PRIME at the court session on Friday.

The court has resumed hearing the lawsuit filed by Rosneft in May to recover a loss stemming from an alleged asset stripping at its current affiliate Bashneft in 2009–2014 by Sistema.

In June, the Arbitration Court of the republic of Bashkortostan ordered seizure of 185 billion rubles worth of assets of Sistema, including a 31.76% stake in mobile operator MTS, 100% in healthcare company Medsi, and 90.5% in Bashkir Power Grid Company, under the Rosneft case.

(59.2490 rubles – U.S. $1)

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