The business court of appeals in Kyiv, on December 10, upheld the ruling of a lower court terminating a contract between the national joint-stock company Nadra Ukrainy and Golden Derrick LLC, concerning the sale of shares of three gas producing companies operating on the Sakhalynske gas condensate field (Krasnokutsk district, Kharkiv region), Nadra Ukrainy’s press service has reported.

"In 2012-2013, the previous senior managers at Nadra Ukrainy sold stakes in three companies extracting gas from one of the largest gas fields in Ukraine – Sakhalynske – to Golden Derrik for slightly over UAH 20 million. Thanks to this, according to Nadra Ukrainy's information, in just two years Golden Derrik managed to make around UAH 120 million. Nadra Ukrainy has not been paid for the shares bought by Golden Derrick… this amounted to a legal justification for filing a claim against Golden Derrik," reads the report.

Nadra Ukrainy stated that the return of the stakes to state ownership will considerably improve the company’s finances.

As reported, the media linked Golden Derrik with the fugitive former energy minister Eduard Stavytsky.