Russia court rejects $16 billion claim against BP
Business Law
A Russian court on Friday rejected a $16 billion claim against BP PLC filed by an obscure minority shareholder in BP's Russian venture, TNK-BP.
The court victory may have softened the blow that BP sustained when Rosneft dropped it as a partner in developing Russia's untapped Arctic oil and gas riches. The multibillion dollar deal broke down after TNK-BP's Russian billionaire shareholders blocked it, claiming that BP should be pursuing it through TNK-BP.
The Arbitration Court in the Tyumen region in Siberia on Friday dismissed two motions filed by a group of minority shareholders led by Andrei Prokhorov, who owns 0.0000106 percent in TNK-BP. The lawsuits are a $13 billion claim against BP and a $2.8 billion suit against two BP-nominated directors on TNK-BP's board.
Prokhorov and other shareholders claimed that BP and its representatives damaged TNK-BP's interests by failing to include the Russian venture in the Arctic deal with Rosneft.
BP's Russian partners in TNK-BP have denied any connection to the minority shareholder's suit. The claim was the reason why Russian police raided BP's office in August, which happened just days after Rosneft teamed up with ExxonMobil to develop the Arctic.
Related listings
-
5 states take Asian carp case to Supreme Court
Business Law 10/27/2011Five states asked the U.S. Supreme Court on Wednesday to hear their plea for quicker federal action to prevent Asian carp and other invasive species from moving between the Great Lakes and Mississippi river watersheds. Michigan Attorney Bill Schuette...
-
Samsung Seeking To Block Sale Of New IPhone 4S
Business Law 10/05/2011Samsung said it will file court injunctions in France and Italy seeking to block the sale of Apple's latest iPhone amid an intensifying patent fight between the smartphone giants. Samsung plans to file preliminary injunctions in Paris and Milan askin...
-
Court: Samsung can't sell tablet in Germany
Business Law 09/09/2011A German court rules that Samsung Electronics's Galaxy Tab cannot be sold in Germany because it violated patents of rival Apple's iPad2. A Duesseldorf state court said Friday it would not allow Samsung, based in Seoul, South Korea, to market its Gala...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.