Kolomoisky says Ukrnafta tax debt is insufficient reason to dismiss board

16:40, 29.05.2015 1 min read

The tax debt owed by PJSC Ukrnafta worth UAH 5.1 billion is not a sufficient reason to change the board of the company because the debt owed by state-owned Naftogaz Ukrainy to the company is much higher, according to the key minority shareholder of the company Ihor Kolomoisky.

"Naftogaz has not fully paid to Ukrnafta: it owes it at least UAH 50 billion. If it pays - we will pay as well," he told reporters in Kyiv.

Kolomoisky said he expects that no drastic solutions will arise from a meeting of the Ukrnafta supervisory board on May 29.

"The usual formality: to schedule a general meeting, approve the agenda, hear the report of the board," he said.

In addition, Kolomoisky said that according to the law, the supervisory council can only be dismissed in case of serious violations.

"By the law, it [the supervisory council] has the right to suspend [the board] if there is a reason. And if no reason - then only a shareholders' meeting. This is what is written in the law... But not always things are done under law," he said.