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Court brings Bashkortostan as coplaintiff to Rosneft lawsuit against Sistema

On May 10, the Moscow Arbitration Court returned the claim of Rosneft and Bashneft filed on May 2 against Sistema for $1.84 bln to the applicants

UFA, June 6. /TASS/. The Arbitration Court of Bashkortostan granted the petition of the Ministry of Land and Property Relation of Bashkortostan to join Russia’s oil major Rosneft lawsuit against investment giant Sistema as a coplaintiff, TASS correspondent reports from the courtroom.

"The court decided to grant the petition," the judge said.

The Ministry of Land and Property Relation of Bashkortostan also supports Rosneft raising stated claims to Sistema to 170.6 ($3 bln rubles) due to changes in exchange rates.

On May 10, the Moscow Arbitration Court returned the claim of Rosneft and Bashneft filed on May 2 against Sistema for 106.6 bln rubles ($1.84 bln) to the applicants.

According to the court materials, the claim should be considered at the location of the legal entity - Bashneft, that is, in Ufa. Rosneft's press secretary Mikhail Leontyev told TASS that Rosneft has already filed a lawsuit against Sistema and Sistema-Invest for 106.6 bln rubles ($1.84 bln) to the Arbitration Court of Bashkortostan to avoid issues with the jurisdiction of the case.

According to the Court ‘s materials on the claim, the defendants Sistema and Sistema-Invest, which jointly owned more than 73% of Bashneft shares between 2010 and 2014, reorganized the company, after which Bashneft lost 49.41% of Sistema-Invest shares, and a 16.8% stake in Bashneft was repurchased from minority shareholders at the expense of the issuer with their subsequent repayment. In addition, 16.8% of Bashneft's shares were purchased from minority shareholders at the expense of the issuer with their subsequent repayment.

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