The court rejected the appeal of Ukraine on the payment of $12 million British JKX

Суд отклонил апелляцию Украины на выплату $12 млн британской JKX

The company hopes to achieve with Kiev out of court settlement of other outstanding disputes.

The high court of England and Wales dismissed the appeal of Ukraine on the decision of the London arbitration, which he ordered Kiev to pay about $12 million oil and gas company JKX Oil&Gas Plc.

As reported by JKX on the website of the London stock exchange, the judge also ordered Ukraine to pay the legal expenses of the company in the amount of almost 62 thousand pounds within 14 days.

“We are pleased that the High court recognised our correctness. I hope that now we will be able to reach an amicable solution of other outstanding legal claims between JKX and Ukraine”, – said the company.

It is also noted that this news, shares of JKX increased by 22%.

Earlier London arbitration in a dispute against Ukraine JKX rejected the basic requirements of the company and upheld the increase of rent rates on oil and gas in 2014, but they decided to compensate about JKX $12 million loss.

As reported Корреспондент.netin February 2015 JKX Oil&Gas has filed a lawsuit against Ukraine at $180 million, the Company demanded compensation for the losses that it incurred as a result of breach of contractual obligations of Ukraine.

Earlier it became known that the British JKX Oil&Gas wants to resolve the conflict with Kiev, even agreeing to a reduction in financial requirements.