BP has resolved its dispute with Russian shareholders of its TNK-BP joint venture, signing a memorandum of understanding last week (4 September) that will result in embattled chief executive Bob Dudley stepping down before the end of the year. Partners in Moscow have warned that the publicity, along with the ongoing tensions, could still have a negative impact on the country's deal market.The news comes as the International Bar Association (IBA) last week urged the Russian Government to ensure the protection of lawyers' rights following raids on law firms by Russian police last month.A host of international firms took roles on the TNK-BP dispute, with Linklaters and Egorov Puginsky Afanasiev & Partners acting for BP, and Herbert Smith advising Dudley and the joint venture's management.
September 11, 2008 at 01:59 AM
1 minute read
The original version of this story was published on Legalweek
BP has resolved its dispute with Russian shareholders of its TNK-BP joint venture, signing a memorandum of understanding last week (4 September) that will result in embattled chief executive Bob Dudley stepping down before the end of the year.
Partners in Moscow have warned that the publicity, along with the ongoing tensions, could still have a negative impact on the country’s deal market.
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