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. Last Updated: 07/27/2016

Sibneft Auction Appeal

MOSCOW () -- Russia's State Property Committee has appealed a court decision invalidating the results of a shares-for-loans auction involving a 51 percent block of shares of the Siberian Oil Company, also known as Sibneft.

The appeal was lodged with Moscow's Arbitration Court, Interfax reported. In May, the court upheld a complaint by Inkombank officials accusing the committee, as organizers of the auction, of legal violations which resulted in Inkombank being denied access to the sale.