November 19, 2014 the court session took place in the commercial court of Yamalo-Nenetskiy Autonomous District to review the court preference filed by Nefte Petroleum Limited on cancelling the approved security claim.
Despite the necessity to provide the other party in advance with copies of the documents on the case which enter the case file, at the beginning of the case session the lawyer of Goltsblat BLP engaged by Novatek presented the written explanations containing a number of unjustified statements.
The commercial court of Yamalo-Nenetskiy Autonomous District in accordance with the Russian law made an objective decision and postponed the court session to November 26, 2014 to further review the case.
At the same time the employee of Goltsblat BLP engaged by Novatek – E. Oreshin issued the incorrect demand to the European bank to disclose the full information on the relations between the bank and the client which, in accordance with the law, is confidential and should not be disclosed to third parties, thus demonstrating, in our opinion, his professional incompetence.
Nefte Petroleum Limited continues to conduct a constructive dialogue with Novatek and its stakeholders targeted towards the successful execution of the YARGEO project.