More Litigation on BP Deal?

Dec. 14, 2011

The Russian co-owners of TNK-BP, who accused BP of causing damage to the company, may face the same charges, Vedomosti reported Tuesday.

TNK-BP directors Mikhail Fridman, Viktor Vekselberg and Leonard Blavatnik knew of the impending BP deal with Rosneft on projects in the Kara Sea, but did not notify TNK-BP, causing damage to the company. BP is calling on TNK-BP to sue them. The possibility of filing a claim against the billionaires was discussed at the TNK-BP board meeting Friday, a source told the paper.

Russian courts are now considering TNK-BP Holding minority shareholders' claims worth $13.6 billion against Peter Anthony Charow and Richard Scott Sloan, BP representatives on the TNK-BP Holding board.

(MT)

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