NoreX vs Alfa/Access/Renvoa-TNK-BP

In February 2002, Norex commenced a lawsuit against various defendants in federal district court in New York City, alleging crimes in connection with the defendants' unlawful seizure of Norex's interest in Yugraneft, a Russian oil company. The case is captioned Norex Petroleum Ltd. v. Access Industries, et al., No. 02-CV-1499 (LTS)(KNF) (S.D.N.Y.).

In February 2004, the district court judge granted the defendants' motion to dismiss Norex's original complaint, but Norex appealed, and in July 2005 the appellate court was unanimous in reversing the District Judge and in reinstating Norex's claims. Both the appellate court and the U.S. Supreme Court rejected the defendants' attempts to dismiss Norex's claims at this time.

Norex again proceeded with its claims in district court and, in December 2005, added additional defendants and claims. The defendants have now once again asked the district court to dismiss Norex's claims, but Norex has strongly opposed that request. The briefing on that issue was completed as of August 2006, and the parties waited until September 27 2007 for the same District Judge's ruling. The ruling by the same District Judge again was to dismiss in favor of the defendants.

This piecemeal approach to the resolution of our dispute could not be more effective in delaying the progress of this case.

Norex has again has had to appeal this District Judge's decision to dismiss and has submitted that Appeal to the Second Circuit of the Southern District of New York Federal Court. The appeal has been filed on January 9 2008 and can be viewed on this web site. On March 10th-08 the appeal was fully briefed and Norex is waiting on oral arguments Norex believes that the appeal court will again find that Judge Swain in the lower court has erred in her rush to again dismiss in favor of the very wealthy defendants who have been shielded from discovery for more that 6 years.

NoreX vs Chubb Insurance

Chubb Insurance Company of Canada ("Chubb") issued a policy of insurance for the policy period from November 14, 2000 to November 1, 2001 identified as Policy No. 3710 9631 (the "Chubb Policy") in favour of Norex Petroleum Limited ("Norex") and its affiliates and subsidiaries, including ZAO Yugraneft Corporation ("Yugraneft").

On or about June 29, 2001, Norex was the victim of a fraudulent and illegal scheme of corruption and conspiracy designed to enable Tyumen Oil Company ("TNK") and its subsidiaries and affiliates to acquire control of Yugraneft and take over Yugraneft's property and assets, including the Oilfield Equipment.

Norex provided both Chubb and Ingosstrakh with written notice and sworn proofs of loss regarding claims under the Chubb Policy and Ingosstrakh Coverage arising out of the loss of the Oilfield Equipment as a result of the forcible takeover of Yugraneft as outlined above. Those claims were denied by both Chubb and Ingosstrakh. Norex's case against Chubb Insurance continues in the Court of Queen's Bench of Alberta in Canada