Judicial examination recognized increase of claim to AFK Sistema sum illegal

Judicial examination recognized increase of claim to AFK Sistema sum illegal
JSFC Sistema disagrees with requirements of Rosneft and intends to challenge the claim in court

The expert declared that the damage caused in rubles should not be changed because of rate fluctuation of dollar or euro.

Professor of the faculty of law of Moscow State University (MSU) Irina Shitkina carried out analysis of legal claims of Rosneft to Sistema JSFC, at the request of the corporation. To recall, the sum of the claims has grown from 106.6 billion rubles ($1.8 billion) to 170.6 billion rubles ($2.8 billion). As representatives of the oil company explained, this happened because of “current exchange rate”.

However, the expert disagrees with such opinion. According to Shitkina, the size of losses if those are caused in obligations, which are not expressed in foreign currency, should be defined in rubles and can not be converted into foreign currency.

“At the same time, change of rate of currency itself is not considered a loss of a party of the obligation in jurisprudence”, Interfax quotes Shitkina. She declared that change of exchange rates is an objective economic factor, “which is not in a sphere of influence of the parties of the obligation”. Therefore “in this case, it is not possible to speak about guilt and relationship of cause and effect — the obligatory elements of tort necessary for accountability”.

To recall, Rosneft intends to claim the loss caused by the corporation to Bashneft, which the JSFC owned till 2014. On June 26 upon the demand of Rosneft bailiffs arrested stocks of subsidiaries of the Corporation - MTS, Medsi, and BESK.

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