London-listed oil firm Sibir Energy PLC (SBE.LN) has received GBP17 million from the sale of a London villa belonging to core shareholder Chalva Tchigirinski, the company said late Monday.

Sibir Energy said the proceeds, which came from the sale of Hugh House in Central London, will be used to pay down some of Tchigirinski's debts to the company.

Tchigirinski is facing a lawsuit of at least $325 million by Sibir Energy, in which he owns a 23.5% stake. Sibir Energy is trying to recover funds paid to Tchigirinski last year as part of a number of controversial real estate dealings, which were later canceled.

Company Web site: www.sibirenergy.com

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 937 8445; jacob.pedersen@dowjones.com
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