The court refused AFK “System” in the petition for disqualification of a judge in the case with Rosneft

The court refused AFK “System” in the petition for disqualification of a judge in the case with Rosneft

UFA, July 20. /TASS/. The arbitration court of the Republic of Bashkortostan refused AFK “System” in the recusal Irina Nurislamova, considering the case of AFK “Rosneft” is 170.6 billion. About it the correspondent of TASS from the event. The decision was announced by Deputy Chairman of the court.

“The grant of the application for disqualification of judge on grounds specified in the statement to refuse. The case will be continued at the end of the break,” he said.

July 19, Sistema announced that it has applied to the Supreme court, the presidential administration of the Russian Federation and other authorities because of the actions of judge Irene Nurislamova. The official representative of “the System” Sergey Kopytov has noted that “the order of the trial judge, accept the judge of the decision, including the rejection of all claims of defendants and third parties, except those acting in the interests of the plaintiffs, can not but cause serious doubts in its impartiality”.

Press Secretary of “Rosneft” Mikhail Leontiev, in turn, called “crazy” treatment “System” in the presidential administration. In his opinion, the AFC triggers the court, and all its actions are aimed at delaying the process.

“Rosneft” against “the System”

In early may of 2017 “Rosneft” and affiliated “Bashneft” has submitted to Arbitration court of Bashkiria the claim with the requirement to recover from Sistema and ZAO “Sistema-invest” 106,6 billion of damages caused by “Bashneft”, according to the plaintiff, as a result of reorganization in 2014. Subsequently, the amount of claims increased to 170,6 billion rubles taking into account the devaluation of the ruble.

A large part of the loss (57,2 billion roubles) is associated with a loss of 49.4% of shares of “Sistema-invest” transferred AFK “System” in exchange for its shares in Bashneft and other assets (the shares of “Bashkirenergo” and “Ufaorgsintez”). The remaining amount of the loss (36,9 billion) – debt cancellation “System-invest” before “Bashneft” and the repayment of 3.9% of shares of “Bashneft” (12.4 billion rubles), bought out minority shareholders who disagree with the terms of this transaction.

AFK “System” does not agree with these claims and considers them unfounded. According to the company, all of these lawsuit actions have been carried out in accordance with the law and best corporate governance practices in business development and growth in the value of Bashneft.

In June, the company offered “Rosneft” to settle the dispute out of court, however, in “Rosneft” considered that the specific proposals not submitted. The oil company intends to continue the trial.

From 2005 to 2014 “Bashneft” was part of the AFK “System” Vladimir Yevtushenkov, after which he was returned to state ownership. In 2016 50,1% of shares of “Bashneft” bought “Rosneft”, paying for a package of 329.7 billion. Later, after the offer to minority shareholders, “Rosneft” began to control 57.7% of the share capital of “Bashneft”.