The business court of appeals in Kyiv in its ruling of May 27 has upheld the ruling of the court of the lower instance stating that there is no basis for the claims of Fitzneal Real Estate limited (London, Britain), Investion Limited, Vigorans Limited and Altimak Limited (all based in Larnaca, Cyprus) against Kyiv City Council on the collection of damage of UAH 229.561 million after shares in Kyivmiskbud Holding (Kyiv) were sold.

According to the Judicial Power of Ukraine website, the business court of appeals in Kyiv did not change the ruling of the business court of Kyiv of February 27, 2015. Kyiv City Council is not in a contractual relationship in the share sale transaction. The court did not find grounds to satisfy the claim of the claimants, reads the report.

According to the report, funds from the claimants, under an agreement on the sale and purchase of shares in Kyivmiskbud of July 29, 2009, were received by financial company New Region LLC (Kyiv, which is a company affiliated with former MP Viacheslav Suprunenko, the former son-in-law of former Kyiv mayor Leonid Chernovetsky), which acted in the case on the defenders' side along with the municipal ownership department of Kyiv City Council and the chief department of the State treasury Service of Ukraine in Kyiv.

New Region bought an 80% stake in Kyivmiskbud or 59.911 million ordinary shares under the agreement.

According to the ruling of the business court of appeals in Kyiv, which has been posted in the state ruling register, under the sale and purchase agreement of July 2, 2010 Investion Limited, Vigorans Limited and Altimak Limited totally acquired 24.9477% or 16.5 million shares worth UAH 36.3 million (8.3159%, or 5,5 million shares each).

According to the document, the claim of Fitzneal Real Estate Limited totals UAH 229.082 million out of UAH 229.561 million of total claim, Investion Limited, Vigorans Limited and Altimak Limited – UAH 110,000 of damage each and UAH 49,508 of lost profit.