Bashneft and Rosneft: Sue Sistema for Damages
Bashneft and Rosneft, acting for the benefit of Bashneft as its shareholder, filed a lawsuit in Bashkortostan arbitration court seeking 131,639,012,421 rubles in damages from Sistema and Sistema-Invest. The amount of the lawsuit is the sum of dividends that the Defendants withdrew from Bashneft from 2009 through 2014, less taxes …
Sistema: Financial Results and Reviews Post Bashneft Investment Strategy
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, today announces its unaudited consolidated US GAAP financial results for the third quarter ended September 30, 2014. BASHNEFT RELATED EVENTS On September 24, 2014, a civil claim was filed with the Arbitrazh (Commercial) Court of the City …
Sistema: Not To Challenge Court Order on Return of Bashneft Shares to the State, Will Pursue Claims Against Original Sellers
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces that Sistema’s Board of Directors has carefully considered and decided not to appeal the decision of the Arbitrazh (Commercial) Court of the City of Moscow dated November 7th , 2014, which ruled that shares of JSOC …
Moscow Court Rules in Favour of Returning Bashneft Shares to State
The Moscow Arbitration court ruled on Thursday that shares in Bashneft owned by Russian conglomerate Sistema should be returned to the state after an “improper privatisation”. A Reuters correspondent at the court said the judge had ruled in favour of the General Prosecutor’s office, which argued that oil producer Bashneft …
Sistema: Russian Court Seizes Shares due to “Significant Violations” of the Law
A Russian court has seized shares in oil company Bashneft that are owned by Sistema, a conglomerate controlled by wealthy businessman Vladimir Yevtushenkov, over alleged violations in the oil firm’s sale reported Reuters. The court granted a request by the Russian prosecutor general’s office, which said on Friday it had …
Sistema: Russian Court Seizes Shares due to "Significant Violations" of the Law
A Russian court has seized shares in oil company Bashneft that are owned by Sistema, a conglomerate controlled by wealthy businessman Vladimir Yevtushenkov, over alleged violations in the oil firm’s sale reported Reuters. The court granted a request by the Russian prosecutor general’s office, which said on Friday it had …
Sistema’s Chairman, Vladimir Yevtushenkov, Under House Arrest
Russian investigators said on Tuesday they had placed the chairman of conglomerate Sistema under house arrest, accusing him of money-laundering in a move the head of an industrialists’ group condemned as being politically motivated. The charges against Sistema’s Vladimir Yevtushenkov were made in connection with the acquisition of shares in …