In London satisfied the claim of Tatneft vs Kiev

В Лондоне удовлетворили иск Татнефти против Киева

The court recognized possible to recover Ukraine’s $144 million on the claim of the Russian company.

The high court of England and Wales acknowledged the possible implementation in the UK of decision of international arbitration on payment of Ukraine’s $ 144 million in favour of the Russian company Tatneft.

It is stated in the prospectus Eurobonds of Ukraine, reports Interfax-Ukraine.

Ukraine has received information about the decision of the High court of England on 25 July 2017, his challenge was allotted 22 days. Most likely, this was not done.

We will remind, the company launched arbitration proceedings against Ukraine in 2008, in accordance with the Russian-Ukrainian agreement on the encouragement and mutual protection of investments because of the situation with Ukrtatnafta.

This company was established in accordance with decrees of presidents of Ukraine and Tatarstan in 1994 on the basis of the Kremenchug refinery. Earlier 18,296% of shares in Ukrtatnafta belonged to the structures close to Tatneft, the Ministry of property of Tatarstan owned 28,7788% of the shares, a further 8.6% of the shares owned directly Tatneft. However, as a result of court proceedings in Ukraine, the share of Tatarstan shareholders refineries were almost zeroed, and the enterprise acquired new shareholders close to the Privat group of Igor Kolomoysky and Gennady Bogolyubov.

In 2014, the arbitration ruled in favor of Tatneft and ordered Ukraine to pay the Russian company a compensation of $112 million plus interest.

In the same year, Ukraine initiated proceedings in the court of Appeal of Paris, aiming at the abolition of these two arbitral awards, stating that the Tribunal had no competence to entertain the dispute, and one of the arbitrators did not meet the requirements of independence and impartiality.

The court of appeal of Paris at the end of 2016 upheld two arbitration decisions obliging Ukraine to pay Tatneft of $112 million plus interest.

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