Norex Petroleum Ltd. asked New York’s highest court to reinstate a $1 billion lawsuit in which billionaires Leonard Blavatnik and Victor Vekselberg are accused of using gunmen and corrupt court proceedings to steal a controlling stake in a Siberian oil field.
United Co. Rusal slid the most in a week in Moscow after Victor Vekselberg resigned as chairman of the world’s largest aluminum producer, saying the company controlled by billionaire Oleg Deripaska is facing a “deep crisis.”
OAO Rosneftegaz, a Russian state-run holding of which President Vladimir Putin’s ally Igor Sechin is chairman, may buy power assets from billionaire Victor Vekselberg’s ZAO Integrated Energy Systems, Vedomosti reported, citing industry officials it didn’t identify.
OAO Gazprom and Russian billionaire Victor Vekselberg scrapped the plan to merge their power assets after failing to agree on price, Vedomosti reported, citing unidentified people familiar with the matter.
United Co. Rusal, the world’s biggest aluminum producer, recognized a $1.4 billion drop in the book value of its OAO GMK Norilsk Nickel holding, the subject of a boardroom spat that led to the chairman quitting last week.
BP Plc and its billionaire partners in Russian oil venture TNK-BP asked a New York judge to throw out claims against them seeking more than $1 billion in damages over the alleged theft of an oil company.
United Co. Rusal’s Chairman Barry Cheung, whose predecessor quit citing a “deep crisis” at the company, said the world’s biggest aluminum producer would study selling its stake in OAO GMK Norilsk Nickel at the right price.
United Co. Rusal fell to a two month-low in Hong Kong after its chairman quit citing disputes with controlling shareholder Oleg Deripaska about dividends and asset sales at the debt-laden aluminum producer.