After the decision of arbitration court of Bashkiria, which satisfied the claim of «Rosneft» to joint-stock financial Corporation «Sistema», the AFC on August 28 announced the occurrence of a technical default on credit obligations in the amount of 8.9 billion rubles (over $123 million). This is stated in the message on the official website of the Corporation.
«The occurrence of a technical default due to the ongoing arrest belonging to the Corporation and JSC «Sistema-invest» MTS shares, «meds» and BESK imposed by the Arbitration court of Bashkortostan Republic… In accordance with market practice, AFK Sistema sent a proposal to the creditors to refuse the realization of the rights in technical default,» – said the Corporation.
In AFK «System» emphasized that the decision about the technical default related to the arrest of these assets and has a formal character and promised to continue to service their credit and financial obligation timely and in full.
The company said that the seizure of assets unfounded and filed an appeal in the 18th arbitration appeal court to resolve this situation.
On 23 August the arbitration court of Bashkiria has partially satisfied the claim of «Rosneft» to AFK «System» and ruled on the claim of 136 billion rubles (more than $2.3 billion at current exchange rate). The financial Corporation announced that it will contest the court decision.
May 8, 2017 Bloomberg, citing respondents said that the claim of «Rosneft» to joint-stock financial Corporation «System» to 106 billion rubles ($1.9 billion) is associated with the struggle between the head of the oil company Igor Sechin and Prime Minister Dmitry Medvedev.
The basic shareholder «Systems» Vladimir Yevtushenkov – ally Medvedev in 2014 is «under the hood» of the power structures because of allegations of corruption and of organizing mass protests, says Bloomberg.
Because the claim of «Rosneft» the Russian Corporation Sistema announced a technical default 29.08.2017