BP, Russian Investor Fight Heads To Arbitration

Law360, New York (February 1, 2011, 7:44 PM EST) -- A U.K. court put a case between BP PLC and its TNK-BP Holding OAO joint venture partners on hold Tuesday as the companies take their dispute over the energy giant's share swap with Russian state-owned oil company Rosneft to arbitration.

The High Court of London stayed proceedings in the suit brought by BP's Russian partners, Alfa Petroleum Holdings Ltd. and OGIP Ventures Ltd., after the companies agreed to arbitrate their dispute over BP's arctic exploration and share swap agreement with Rosneft.

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