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Court to try AFK Sistema, Sistema Invest for Bashkir property privatisation violations

September 26, 2014, 11:13 UTC+3
Meanwhile, the Moscow City Court has left AFK Sistema CEO Vladimir Yevtushenkov, who is named as a defendant in the Bashneft fraud case, under house arrest until November 16
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© ITAR-TASS/Sergey Bobylev

MOSCOW, September 26. /ITAR-TASS/. The Moscow Court of Arbitration will try October 9 a lawsuit which the Prosecutor General’s Office filed against AFK Sistema and Sistema Invest over violations in privatisation of Russia’s southern Ural Bashkortostan fuel and energy enterprises, the court said in its materials.

Russian Prosecutor General’s Office and Federal Property Management Agency have filed the lawsuit.

The court ruled to arrest Bashneft’s stock owned by AFK Sistema and Sistema Invest on Thursday.

On Friday, the Prosecutor General’s Office confirmed its lawsuit in the court to reclaim Bashneft’s property for the Russian state. The Prosecutor General’s Office had found massive legislation violations in alienating enterprises of the fuel and energy sector in the republic of Bashkortostan in the southern part of the Ural Mountains, spokesperson for the Prosecutor General’s Office Marina Gridneva said.

“Since mentioned property entities were managed in violation of state property privatisation procedure, breaching the will of the Russian Federation and for protection of state interests the Prosecutor General’s Office had filed a lawsuit in the Moscow Court of Arbitration to claim property from illegal possession and to take injunctive measures to arrest joint stock oil company Bashneft’s stock,” Gridneva said.

Meanwhile, the Moscow City Court has left AFK Sistema CEO Vladimir Yevtushenkov, who is named as a defendant in the Bashneft fraud case, under house arrest until November 16. So, the court has turned down a lawyer’s request to release him on a 300 million rouble ($7.9 million) bail. Other figurants were named in a massive fraud case. They are Deputy Chairman of AFK Sistema Board of Directors Alexander Goncharuk and Senior Vice-President Sergei Drozdov. They escaped from justice, the detective said. Drozdov and Goncharuk are staying abroad - on vacations and for a recuperation course, the lawyers said.

As of May 14, 2014, AFK Sistema possesses 63.16% in Bashneft’s stock, closed-access joint stock company Sistema-Invest - 10.67%, 6.11% on Bashneft’s balance sheet and other shares in public float.

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