Tatneft Waited Too Late On $294M Oil Fraud Suit, Judge Rules

Law360, London (February 24, 2021, 5:41 PM GMT) -- A London judge on Wednesday rejected a $294.3 million fraud case brought by Tatneft, finding that the Russian oil giant waited too long to lodge its claim against four Ukrainian businessmen.

High Court Judge Clare Moulder concluded that PJSC Tatneft had missed a three-year cutoff under Russian law to file its 2016 High Court lawsuit. She sided with the defendants' argument that Tatneft knew about an alleged oil siphoning scheme in 2009 when it detailed its claim at arbitration proceedings in Ukraine.

The men maintained the oil company should have brought a lawsuit over the claims it inherited from Kompaniya Suvar-Kazan...

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