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Court denies embattled AFK Sistema petition to lift arrest from Bashneft’s stock

December 02, 2014, 10:40 UTC+3
The Moscow court of arbitration earlier satisfied the Prosecutor General’s Office lawsuit on finding Bashneft privatization illegal on October 30 and return 71% of company’s stock to the state
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© EPA/YURI KOCHETKOV

MOSCOW, December 2. /TASS/. Moscow court of arbitration turned down embattled Russian financial and industrial group AFK Sistema petition to lift arrest from oil company Bashneft’s stock, the court’s press service told TASS.

“The court ruled to turn down the petition,” the court’s press service said, refraining from further comments.

The Moscow court of arbitration has satisfied the Prosecutor General’s Office lawsuit on finding Bashneft privatization illegal on October 30 and return 71% of company’s stock to the state. Defendants on the lawsuit are private owners of the oil company — AFK Sistema headed by Vladimir Yevtushenkov who is currently under house arrest, its investment branch Sistema-invest and the very Bashneft. The court ruled that 71% of Bashneft’s stock would be passed into state property on December 7.

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