Transneft Loses Disclosure Appeal as Shareholder Queries Payouts
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OAO Transneft, Russia’s monopoly pipeline operator, lost an appeal against a court ruling ordering it to disclose board minutes to a minority shareholder who questioned how the state-run company allocates profit.
Moscow’s Ninth Arbitration Appeal Court yesterday upheld the Feb. 17 decision by a lower court that ordered Transneft to provide minutes from board meetings in 2009 and 2010, the tribunal’s press service said today.