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Company disputes decision dismissing $335mln claim against Gazprom

18:00 11/05/2012

MOSCOW, May 11 – RAPSI. The Supreme Commercial Court has registered Rosgazifikatsiya's application to reconsider the dismissal of its lawsuit to recover $335 million from Gazprom and its registrar SR-DRAGA.

Fifty million shares in Gazprom, or 0.2 percent of its charter capital owned by Rosgazifikatsiya, were transferred to the Depositary-Settlement Union in the early 2000s and then auctioned. Rosgazifikatsiya maintains that its management was unaware of the transaction.

The plaintiff seeks to recover losses amounting to the value of the 50 million shares.

On July 27, 2011, the Moscow Commercial Court dismissed Rosgazifikatsiya’s lawsuit, stating that the registrar's guilt in inflicting the damages had not been proved.

Moreover, the court previously found other parties guilty. Therefore, SR-DRAGA and Gazprom should not bear responsibility, the court said.

The appeals court upheld the ruling. The company then submitted to the Supreme Commercial Court an application to reconsider the decision.

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Company disputes decision dismissing $335mln claim against Gazprom

18:00 11/05/2012 The Supreme Commercial Court has registered Rosgazifikatsiya's application to reconsider the dismissal of its lawsuit to recover $335 million from Gazprom and its registrar SR-DRAGA.
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