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Surgutneftegas seeks to void MOL board, AGM resolutions in court

Russian oil and gas company Surgutneftegas has initiated litigation against Hungarian peer MOL to void the board's decision refusing Surgutneftegas's registration in the share registry and to void all resolutions made by MOL's AGM on April 23 because of the board's refusal to register Surgutneftegas, MOL said.

The Budapest court will hear the case on voiding the board's resolution on November 11, 2009.

MOL said on June 4 that Surgutneftegas had initiated judicial supervision against it because of the failure to include Surgutneftegas in its share registry.

Surgutneftegas acquired a 21.2% stake in MOL from OMV at the end of March, but it was not included in the share registry before the company's AGM in April.

The Hungarian Energy Office (MEH) told MTI earlier that Surgutneftegas had informed it of the company's acquisition of the MOL stake, but MEH had submitted questions to the Russian company before acknowledging the transaction. For this reason, the company was unlikely to be included in the share registry before the AGM.

MOL's management called the acquisition of the stake by Surgutneftegas unfriendly. (MTI – Econews)