Support The Moscow Times!

Suit Against BP Dropped

The board of directors of TNK-BP Holding approved minority shareholder Andrei Prokhorov's decision to drop a lawsuit against BP seeking more than 100 billion rubles, TNK-BP said, Interfax reported.

TNK-BP Holding is TNK-BP's largest subsidiary.

In December, a source familiar with the case told Interfax that Prokhorov had filed a motion to drop the lawsuit against BP on the grounds of a petition by Prokhorov's representative for more evidence from TNK-BP's executive directors. The motion was granted.

Prokhorov said BP compelled the board of directors of TNK-BP to reject a proposal for TNK-BP Holding to participate in a planned strategic partnership between BP and state oil major Rosneft.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.