BP, Russian Partners Settle Score To Ease $55B JV Buyout

Law360, New York (November 13, 2012, 6:48 PM EST) -- BP PLC and four Russian oligarchs have agreed to squash all outstanding legal disputes between them ahead of the $55 billion buyout of their joint venture TNK-BP Ltd., a move that frees the partners up to explore new projects in Russia, the parties said Tuesday.

Under the settlement, British BP and AAR Consortium — which represents an alliance of three Russian private investment firms linked to the four Russian business tycoons — consented to drop the arbitration cases each has brought against the other in the...
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