Suit Against TNK-BP Tossed

By The Moscow Times

Jan. 26, 2012

The eighth arbitration appeal court in Omsk upheld the ruling of the arbitration court of the Tyumen region that dismissed Andrei Prokhorov's claim against TNK-BP Holding board members Peter Anthony Charow and Richard Sloan, BP Russia Investment said in a statement Thursday.

Prokhorov, who owns 0.0000106 percent of shares of TNK-BP Holding, filed two lawsuits on August 9, 2011, against BP Russian Investment, BP and board members of TNK-BP Holding.

Prokhorov sought to recover 496 billion rubles ($16 billion) in lost profits to TNK-BP allegedly incurred by the company due to nonparticipation in the potential Arctic deal with Rosneft.

(MT)

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