Rosnedra protects Bashneft from minority shareholders

Minority shareholders can’t challenge actions and decisions of government agencies, made in respect of the company, shareholders of which they are. That’s how the Court of Appeal explained why it left the license for the Trebs and Titov field in ownership of joint venture of Bashneft and Lukoil Bashneft-Polus. Lawyers agree with this, explaining that the decision of the first instance, which revoked the license, was illogical.

On Saturday, a judgment of the appellate court, which rejected the claim of Bashneft’s minority shareholder Railya Inozemtseva, who challenged the transfer of a license for development of the Trebs and Titov field to Bashneft-Polus (joint venture of Bashneft and Lukoil), was published. The court explained that the minority shareholder can’t challenge the decisions and actions of government agencies on behalf of the company - it is not provided for by the law. According to the court, the actions of Rosnedra didn’t affect the rights of Mrs. Inozemtseva in the sphere of subsoil use and "didn’t assign any responsibilities to her", and at the same time the individual "is not a party of the subsoil use relations". A representative of Railya Inozemtseva stated to the Kommersant that he didn’t agree with the court’s decision, and planned to appeal it.