BP Docs From Moscow Raid Nixed In $5B Investor Suit

Law360, New York (October 11, 2011, 6:02 PM EDT) -- A Russian arbitration court reportedly ruled Monday that documents Russian authorities seized from BP PLC’s Moscow offices during a raid over the summer can’t be used in a $4.8 billion shareholder suit against its joint venture TNK-BP.

On appeal from BP, the court reversed a lower court’s order that gave Russian bailiffs permission to sweep through the oil giant’s offices in connection with the suit, which targets BP’s loss of a major Arctic exploration deal with state-owned OAO Rosneft, Upstream Online reported.

The raid came Aug....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.