10:54 14.07.2017

Kyiv's business appeal court annuls lower instance court decision to collect UAH 232 mln from Ukrgazvydobuvannia

Kyiv's business appeal court annuls lower instance court decision to collect UAH 232 mln from Ukrgazvydobuvannia

Kyiv's business court of appeals has annulled a ruling of lower instance court to collect UAH 231.6 million from public joint-stock company Ukrgazvydobuvannia in favor of Arabian Energy Alliance UA, the press service of the Prosecutor General's Office (PGO) has reported.

The court made the decision on June 13.

"The lower instance court notwithstanding the requirements of Article 121 of the Code of Commercial Procedure of Ukraine groundlessly changed the way and the rules for enforcing the court ruling from a commitment to transfer arrested property under the joint operations agreement to pay for it… The court of appeals annulled the unlawful decision," the PGO said.

Arabian Energy Alliance UA is the legal successor of компании Kuwait Energy Ukraine.

Kuwait Energy Ukraine was the co-owner of Rudis drilling company LLC, the former partner of Ukrgazvydobuvannia in joint operations.

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