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Oil giant denied suspension of litigation over secret board minutes

18:00 11/01/2012

MOSCOW, January 11 - RAPSI, Alyona Yegorova. A commercial court has turned down on Wednesday Rosneft's request to suspend the litigation initiated by its minority shareholder Alexei Navalny on supplying him with the minutes of its board meetings for 2009, the Russian Legal Information Agency (RAPSI /rapsinews.com) reports from the courtroom.

Renowned whistleblower, blogger and lawyer Alexei NavalnyRenowned whistleblower, blogger and lawyer Alexei Navalny

At the previous hearing, Rosneft sought to suspend the trial as the Moscow Commercial Court is now considering its lawsuit against the Federal Service for Financial Markets to challenge its order dated July 2, 2010 to rectify the violations and give Navaly the requested minutes.

Rosneft argued that "before the dispute over the service's order is resolved the case cannot be heard."

Navalny disagrees with Rosneft. In his view, the litigation with the service is "secondary," as he turned to the service after the first decision was passed in his dispute with Rosneft.

The litigation has been continuing for over a year and was conducted on three levels. Rosneft stated in court that its board enjoys two types of competence - statutory and extended - and minority shareholders are not entitled to receive documents concerning extended competence.

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Oil giant denied suspension of litigation over secret board minutes

18:00 11/01/2012 A commercial court has turned down on Wednesday Rosneft's request to suspend the litigation initiated by its minority shareholder Alexei Navalny on supplying him with the minutes of its board meetings for 2009.
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