Anglo-Russian oil joint venture TNK-BP paid $489.6 million to its British shareholder BP PLC (BP) for the work of BP employees from 2003 to 2008, the Vedomosti daily reported Wednesday, citing a Russian court ruling.
Last month, an arbitration court in the city of Tyumen, where listed TNK-BP Holding (TNBP.RS) is registered, ruled in favor of a small brokerage ZAO Tetlis - a minority holder in TNK-BP - which alleged that the fees TNK-BP paid for the BP specialists amounted to an illegal dividend for BP.
The court declared a contract to send BP employees to work at TNK-BP invalid.
BP said it intends to appeal the ruling.
The ruling came amid an ongoing shareholder struggle between BP and its Russian billionaire partners, commonly known as AAR, for control of the company. BP and AAR own TNK-BP's parent company TNK-BP Ltd. on a parity basis.
BP says it has made no profit from its employees seconded to TNK-BP and that they were employed on equal terms with other TNK-BP staff. BP has also accused its Russian partners of being behind the lawsuit by Tetlis.
Last month, BP withdrew the last of its 148 employees it had seconded to TNK-BP.