DTEK will file a counterclaim against a ruling of the business court of Kyiv that declared the privatization of 25% of shares in public joint-stock company Dniproenergo (Zaporizhia) by DTEK as illegal, the energy holding said in a report.

The court issued the ruling on July 30, 2015 after hearing a claim of the Public Prosecutor's Office against the Cabinet of Ministers of Ukraine, the State Property Fund of Ukraine (SPF), and DTEK Holdings Limited (Cyprus).

"Gross infringements were committed during the court process. Proof and petitions of representatives of the Cabinet of Ministers and DTEK were not taken into consideration and were not studied. Unfortunately, the court upheld the absolutely invented claim," DTEK Chief Legal and Regulatory Officer Oleksiy Zakharchuk said.

Managing partner of Baker&McKenzie, which represents DTEK's interests in court, Serhiy Piontkovsky, said the Public Prosecutor's Office failed to present any proof of damage being caused to the state or any violation of the interests of the state in the privatization of Dniproenergo's shares.

"All responsibility was imposed on the private investor who fairly paid almost UAH 1.18 billion for the shares of Dniproenergo. The ruling of the business court of Kyiv puts under doubt the protection of ownership rights and investment in Ukraine. We do not agree with the court ruling and we will file a counterclaim and continue protecting the legal rights of our client," he said.

In 2012, DTEK bought 25% of shares in Dniproenergo for UAH 1.18 billion. The holding was the only bidder during the tender.