Russian Court Says TNK-BP Board Nominations Illegal

Law360, New York (July 31, 2008, 12:00 AM EDT) -- In another setback for BP Plc over its fight to maintain control of its troubled Russian joint venture, a Russian court on Thursday reportedly declared the oil giant's election of a TNK-BP subsidiary's board of directors illegal.

According to Russian news source RIA Novosti, the Arbitration Court in Tyumen found embattled TNK-BP CEO Robert Dudley's nominations for candidates of the board of TNK-BP Holding “illegal.”

The list of candidates had been approved and confirmed at a shareholders meeting on June 26. Identical to the previous year's...
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