The Minority of TNK-BP Holding Andrei Prokhorov suited BP more than 100 billion rubles

The Arbitration Court of the Tyumen region partially satisfied the lawsuit of the Ministry of Defense and the Holding of the Holding Andrei Prokhorov on July 27, obliging the British company to pay 100.4 billion rubles, RIA Novosti reports.

In the lawsuit against BP Russian Investment Limited (BPRI) and BP PLC, a requirement of losses of 288 billion rubles was stated.

The basis for Prokhorov’s appeal to the court was that the BP PLC (the maternal company in relation to BP Russian Investments Limited) and BP Russian Investments Limited as a shareholder of TNK-BP Limited achieved the Directors of TNK-BP Limited proposals "TNK-BP holding" in strategic partnership and acquisition of Rosneft shares.

The blocking of this possibility, according to the plaintiff, entailed losses for TNK-BP Holding. Prokhorov on July 9 reduced the amount of his claims from 409 billion to 288 billion rubles.

This is the second circle of proceedings. On June 6, the Federal Arbitration Court of the West-Siberian District canceled all judicial acts in this case and sent it for a new consideration to the Tyumen arbitration, satisfying Prokhorov’s complaint.

Rosneft and BP in January 2011 agreed on a mutual exchange of shares, in the framework of which the Russian company could get 5% of ordinary VP shares in exchange for 9.5% of its shares, as well as the joint development of the Russian arckest shelf. However, in the suit of the Aar consortium, representing Russian shareholders TNK-BP, the deal was blocked. In June last year, negotiations on it were discontinued.

According to the minoritytarians, due to the breakdown of the transaction between BP and Rosneft, the interests of TNK-BP shareholders were infringed on the creation of an alliance in the Arctic and the exchange of shares, as the company could act as a Rosneft partner.