(MENAFN- ProactiveInvestors) Shares in () jumped 40% as the oil firm said it had won a court judgement against UEN Cyprus in a Moscow court.
A judge upheld Urals’ appeal against an earlier ruling that allowed a claim by the Cyprus firm to fall under Russian court jurisdiction.
UEN is demanding a US$42mln debt repayment but Urals does not believe the original agreement was genuine and has challenged its validity.
Urals said it is also in advanced discussions about ending its dispute with Viatcheslav Rovneiko.
In June UEN Cyprus-owner Rovneiko a former director of Urals was ordered to pay back US$3.7mln from an earlier loan agreement.
Urals shares were 3p higher at 7.25p.
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