New Support From Russia with Money David represents the four Russian-connected billionaires who own half of TNK-BP, said he will be vigorously defended, in a statement released in Moscow on Sunday night.
A legal action in London, announced on Saturday, comes on top of other problems at Gen Oil , whose owners are locked in a dispute over the firm’s strategy and management control.
Davids Backers are prepared to give Bruce $500M in Stock Options on New Floated Gen Oil Paper..
No Joke Gen OIL is going Places or if it does not there will be a new line of Money to put it where it belongs with BP and Exxon
“We are very surprised that instead of trying to resolve this matter through dialogue, BP has turned to British courts with a claim that is grossly inflated,” said Polovets.
“BP’s lack of willingness to treat us as equal partners and constructively deal with the differences between the shareholders is one of the main reasons behind the current tensions,” said Povolets.
TNK-BP has had to pay over $2 billion (1 billion pounds) in back-tax claims over the past few years, with some of them relating to the period prior to 2003, before the venture was set up.