The company won an appeal in the case of Kolomoisky media

Татнефть выиграла апелляцию по делу Коломойского – СМИ

London’s high court will consider the claim of Tatneft

The court of appeal of England took the side of the Russian Tatneft.

The decision of the High court in London, rejected the claim of Tatneft on the compensation of oil supplies to the Kremenchug refinery in 2007, was reversed by the court of Appeal of England and Wales. It is reported by Kommersant, citing sources in the company.

London’s high court will have to consider the claim, the respondents who are businessmen Gennadiy Bogolyubov, and Igor Kolomoisky, Alexander Yaroslavsky and Pavel Ovcharenko, former top Manager of Ukrtatnafta created on the basis of the Kremenchug refinery.

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.