Norex Suit Over Oil Co. Takeover Too Late: Attys

Law360, New York (December 15, 2011, 6:31 PM EST) -- BP PLC, Russian billionaires and others accused of conspiring to seize Norex Petroleum Ltd.'s $500 million controlling interest in Russian oil company ZAO Yugraneft Corp. asked a New York state judge during a hearing Thursday to end the long-running dispute.

Alberta, Canada-based Norex has alleged that a complex web of Russian billionaires and the energy companies and industrial conglomerates they control plotted with BP to seize Yugraneft from Norex through a corrupt Siberian court proceeding in 2001 and have withheld Yugraneft profits and dividends from Norex...
To view the full article, register now.