Court defeated Rosneft's claim against AFK Sistema on $1.82 billion

Court defeated Rosneft's claim against AFK Sistema on $1.82 billion

The capital's Arbitrazh Court returned the suit to the oil company due to nonjurisdiction - as the document says, it was necessary to appeal to AFK Sistema in Ufa, and not in Moscow.⁠

The Moscow Arbitrazh defeated the lawsuit filed by Rosneft and Bashneft against AFK Sistema for 106.6 billion rubles ($1.82 billion) due to lack of jurisdiction: a lawsuit must be filed in Ufa at the place of Bashneft registration, said Mikhail Leontiev, the Rosneft spokesman. He stressed that Rosneft is ready to consider the dispute in the Ufa court, he added.

In turn, AFK Sistema said that they consider the decision of the court as a legal and reminded that they consider the claims of the plaintiffs illegal.

Recall that on May 2, Rosneft and Bashneft appealed to the Moscow Arbitrazh Court demanding recovery of more than 106.6 billion rubles from AFK Sistema. The company, headed by Igor Sechin, explained that they intend to compensate the depreciation of of Bashneft’s assets, which, according to Rosneft, was intentionally conducted by AFK Sistema at the time when it owned the company's shares.

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