AFK «System» presented in court expert opinion on the dispute with Rosneft

© RIA Novosti / Ilya Petliurite in fotobounce at the entrance to the building oil and gas company Rosneft Sofiyskaya embankment in Moscow. Archival photoAFK «System» presented in court expert opinion on the dispute with Rosneft© RIA Novosti / Ilya Petliurite the image Bank

AFK «System» as evidence of his position in court in a dispute with «Rosneft» has presented the conclusion of the head of civil law Department of law faculty Professor Yevgeny Sukhanov, told RIA Novosti the representative of the company Sergey Kopytov.

The expert at the request of the Corporation praised the subject of the claim «Rosneft» and «Bashneft» to AFK and study carried out the reorganization of «Bashneft».

According to Sukhanov, «Rosneft», as the owner of a controlling stake in Bashkir company is not entitled to claim compensation for previously incurred losses on a par with minorities.

«It should be assumed that the acquirer of a controlling stake if you didn’t know, as a reasonable and prudent businessman should have known about the real situation in the company, shares which he acquires. Therefore, such purchaser was not entitled to tort claim against the parent company, previously caused the losses of its subsidiary,» — wrote the expert in his report (a copy is available to RIA Novosti).

According to experts, the fact that the actual (economic) position of the subsidiary was in fact worse than that they had expected the acquirer of a controlling stake of its shares, may testify only about the violation of his rights as a purchaser of shares from the counterparty to the transaction, if he had acted under the influence of a substantial mistake. «In this case, he is entitled to challenge such a deal… or claim to recover from the seller damages caused by breach of contract, but not to impose this law exclusively to minority shareholders of joint-stock companies tort claim,» writes Sukhanov.

Getting Bashneft’s own shares as a result of reorganization and repayment may not entail for him any property losses, said the expert. «Such campaigns have already been paid by the shareholders from the assets, amounting to their share in the authorized capital stock, and their new (re) without providing the same equivalent in the form of new shares in Bashneft would be inadmissible in the civil law of unjust enrichment,» explained the Professor.

AFK «System» till the end of 2014 owned controlling stake of «Bashneft». «Rosneft», «Bashneft» and Bashkiria in the court demanding to recover from the AFC and her «daughter» is 170.6 billion rubles in favor of «Bashneft». The plaintiffs believe that the damage occurred taking into account the weakening of the ruble «System» caused Bashneft’s reorganization. «The system» for its part, has repeatedly stated the groundlessness of the claims and willingness to defend its position in court.

Arbitration court of Bashkiria on Tuesday postponed until July 12 the consideration of the claim of «Rosneft» to recover from Sistema is 170.6 billion. AFC filed a motion to suspend the proceedings on the claim of «Rosneft» to the decision of the Zamoskvoretsky court of Moscow, which previously filed a lawsuit challenging the notarization of correspondence managers «Bashneft» submitted «Rosneft» in the Bashkir court as evidence in the case. Arbitration of Bashkiria refused to suspend the proceedings.