UPDATE2: Court delays Sistema vs Rosneft case hearing to Aug 23

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UFA, Aug 18 (PRIME) -- The Arbitration Court of the republic of Bashkortostan has delayed hearing of a 170.6 billion ruble case filed by oil major Rosneft against multi-industry holding Sistema to August 23 after the defendant asked for a month to organize an amicable settlement and to study new evidence provided by the plaintiff.

Rosneft’s representative said his company has received no specific proposals from Sistema.

In May, Rosneft filed the suit to recover a loss stemming from an alleged asset stripping at its current affiliate Bashneft in 2009–2014 by Sistema, to postpone it for August 23.

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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