Bashkortostan Court arrested Sistema JSFC assets for 99 billion rubles on Rosneft lawsuit - federal media

UFA, 13 December 2017. /Bashinform News Agency/. The Arbitration Court of Bashkortostan, within the framework of the interim measures against the lawsuit filed by Rosneft and Bashneft against Sistema JSFC for 131.6 billion rubles, decided to seize assets with a total book value of almost 99 billion rubles, TASS reports.

In particular, the court arrested 52.09% stake in PJSC "Detsky Mir" with a book value of 33.8 billion rubles. Also, 90.5% of shares of the agricultural holding Steppe were purchased at a cost of 17.2 billion rubles, 71.87% of PJSC MTS-Bank worth 15.3 billion, 100% of Sistema Telecom Assets LLC worth 8.7 billion. 98.78% of JSC "Leader Invest" worth 7.9 billion rubles, 16.18% of the Group of Segezha worth 7.5 billion rubles and 88.78% of the group "Kronstadt" worth 7.1 billion rubles were seized. In addition, 45.96% of Sistema Hotel Management, owned by Sistema-Invest, with a book value of 1.2 billion rubles and 27% of the "United Bridge-Building Enterprise" worth about 0.001 billion rubles were arrested.

Thus, assets belonging to Sistema JSFC were arrested for a total of 97.5 billion rubles, as well as assets of Sistema-Invest for the amount of 1.201 billion rubles. Total, the court seized assets worth 98.701 billion rubles in this case.

The court forbade Sistema JSFC to dispose of this property and receive income on the arrested securities.

Bashneft's report on filing a new claim indicates that the amount of losses is determined as of the date of their infliction and "in the future may be increased by the results of additional calculations and estimates."