Moscow brokerage ZAO Tetlis is seeking up to $400 million from BP PLC (BP), the daily Vedomosti reported Thursday citing documents filed with a court in Russia's Siberia.
Tetlis, which owns a small stake in a publicly traded unit of TNK-BP Holding (TNPB.RS), BP's Russian joint venture, is seeking the money on behalf of TNK-BP Management for reimbursement of fees paid to BP specialists, the newspaper reported.
Tetlis has alleged that the fees TNK-BP pays for the BP specialists amount to an illegal dividend for BP.