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TNK-BP case against BP weakening?

MOSCOW, Oct. 13 (UPI) -- A case against two executives from BP filed by an investor at TNK-BP is closer to dismissal after a court said TNK-BP's claims lacked shareholder support.

BP executives Richard Sloan and Peter Charow are being sued for $2.8 billion by a small group of minority TNK-BP investors led by Andrei Prokhorov. They claim a collapsed deal between BP and Russian energy company Rosneft was costly to TNK-BP shareholders.

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A court, however, has ruled that Prokhorov isn't allowed to have more time to get support from the 1 percent of the TNK-BP shareholders needed, meaning the case could be dismissed, British newspaper The Daily Telegraph reports.

A $4.9 billion case against BP is still pending, though the British energy company scored a win last week when a Siberian court ruled documents seized from its Russian offices can't be used as evidence.

A proposed January deal between BP and Rosneft for work in the arctic collapsed after TNK-BP said the proposal violated terms of its shareholder agreement with BP. Rosneft later landed a similar deal with U.S. supermajor Exxon Mobil.

The Russian court considers the dismissal in November.

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