Claims of Ukrnafta minor shareholders against Ukraine in Stockholm up to $5.4 bln
The claims of the minority shareholders of Ukrnafta against Ukraine have increased to $5.439 billion, according to materials posted by the Ministry of Justice in the ProZorro procurement system.
In September 2017 the prospectus of Ukraine's eurobonds stated that the claims of the minority shareholders against Ukraine in accordance with the suit filed to the Arbitration Institute of the Stockholm Chamber of Commerce amounted to $4.7 billion.
According to the document, oral hearings in the arbitration are scheduled for February 19-March 2, 2018.
As reported, the minority shareholders of PJSC Ukrnafta (Cypriot Littop Enterprises, Bridgemont Ventures, Bordo Management) in June 2015 filed a lawsuit to the Stockholm arbitration against the state of Ukraine.
In particular, they accused Ukraine of causing damage due to the withdrawal of gas produced by Ukrnafta without payment or with payment at an underestimated price, the failure of Naftogaz and Ukrtransgaz to comply with the rulings of Ukrainian courts, a sharp increase in royalties for subsoil use, and the reduction of quorum for holding meetings of joint-stock companies.