The National Anti-Corruption Bureau of Ukraine (NABU) has achieved declaration of a deal between public joint-stock company Azot and public joint-stock company Cherkasyoblenergo invalid. According to this deal, damage of over UAH 57 million was caused to the interests of the state in the person of Energomarket state-owned enterprise.

"Ukraine's higher business court on August 3, 2017 upheld the claim of the NABU in full amount, leaving unchanged the rulings of courts of lower instances," the press service of the NABU said on Wednesday.

The bureau recalled that the contract between Azot and Cherkasyoblenergo was signed in April 2016. It envisaged the setoff of identical counterclaims between the companies, which is not in line with the law on electricity and the rules of using electricity. Azot in December 2015 and January 2016 avoided paying for electricity consumed.

The NABU launched investigation into the crime in summer 2016.

The higher business court declared the deal invalid under Articles 203, 215 and 228 of the Civil Code of Ukraine.

"Azot is to send UAH 57 million to the special regime current account of Cherkasyoblenergo. When the funds are sent, the wholesale electricity market rules will apply to them," the NABU said.

As reported, the state in the person of the State Property Fund holds 46% of shares in Cherkasyoblenergo, UkrESCO holds 25% of shares and Svarog Asset Management of Konstantin Grigorishin – 24%.

Azot (Cherkasy) is part of Ostchem Group of Dmytro Firtash.