London, 19 February 2015 -- Russian conglomerate Sistema Joint Stock Financial Corporation's (Sistema, B1 negative) RUB70.7 billion claim against Ural-Invest LLC (not rated) regarding Sistema's 2005-09 acquisition of a stake in Bashneft (Ba2 review for downgrade) was upheld on 16 February by the Moscow Arbitrage Court. The decision will have no immediate effect on Sistema's B1 rating because the final outcome of the dispute remains uncertain as Ural-Invest has an option to appeal the court's decision.
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