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Sunday, May 19, 2024 | Back issues
Courthouse News Service Courthouse News Service

Russian Justice

MANHATTAN - Norex Petroleum claims Access Industries and others stripped it of its $500 million interest in the Yugraneft oil company, through the corrupt Russian justice system. Click headline to see the defendants.

According to the Courthouse News summary of this 33-page complaint in New York County Court: "In 2001, the defendants engaged in a scheme to strip the plaintiff of its valuable controlling interest in a Russian oil company named ZAO Yugraneft. The defendants illegally took control of Yugraneft by corrupting Russian court proceedings and sending armed militiamen to storm Yugraneft's offices and production field. The defendants also conspired to create forged documents that they used to give them control of Yugraneft. As a result of the defendants' acts, Norex lost the value of its controlling shareholding in Yugraneft, estimated at $500 million."

Here are the defendants: Access Industries, Renova, Leonard Blavatnik, Victor Vekselberg, Alfa Group Consortium, Crown Finance Foundation, CTF Holdings Ltd., Crown Luxembourg Holdings Sarl, Oao Tyumen Oil Company, TNK International Ltd., Simon Kukes, Joseph Bakaleynik, BP PLC, TNK-BP Limited, and Astons Trustees Limited.

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