December 18, 2017 / 12:35 PM / a year ago

Russia's Sistema to comply with court ruling, to lodge cassation appeal

MOSCOW (Reuters) - Russian business conglomerate Sistema said on Monday it would comply with a court ruling ordering it pay 136.3 billion roubles ($2.33 billion) in damages to Rosneft but will lodge an appeal in cassation.

“The corporation plans to implement the court’s ruling in accordance with the procedure established by law, and will simultaneously dispute the ruling of the appeal court by filing a cassation appeal to the Arbitration Court of the Urals District within the time limit prescribed by law,” it said.

The company also said in a statement it was servicing and planned to continue to service its credit and other financial obligations in a timely manner and in full.

Reporting by Maria Kiselyova; Editing by Dmitry Solovyov

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