Ural District Arbitration Court did not satisfy Sistema’s appeal to withdraw its assets freeze

UFA, 31 October 2017. /Bashinform News Agency, Galiya Nabieva/. On Tuesday, the Ural District Arbitration Court in Yekaterinburg did not satisfy the cassation appeals of Sistema JSFC and its subsidiaries Sistema-Invest on the refusal of the lower courts to withdraw the arrest from the assets of the corporation in Rosneft’s lawsuit for 170.6 billion rubles, Interfax reports.

On October 17, the Ural District Arbitration Court considered and refused to satisfy similar appeals on the definition of lower courts on interim measures adoption in the form of the company's assets seizure.

All these cassation appeals relate to the essence of one decision, but are not consolidated cases and therefore are considered at different times.

It was also reported that Rosneft filed a claim for recovery of 170.6 billion rubles in losses from Sistema JSFC, which, in the plaintiff's opinion, arose due to reorganization of Sistema’s assets of Bashneft in 2014.

At the request of Rosneft, Sistema's assets (31.76% of PJSC MTS, 100% of Medsi and 90.47% of BESK) were subject to interim measures totaling 185 billion rubles, that was, with a reserve of almost 15 billion to the initial amount of claims.