Ukrainian court recognizes Stockholm arbitration ruling to recover $250 mln from Odesa port-side plant in favor of Ostchem
Yuzhny town court of Odesa region has recognized the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce dated July 25, 2016 to recover about $250 million from PJSC Odesa port-side chemical plant in favor of Ostchem belonging to Dmytro Firtash.
The corresponding decision of March 6 has been posted in the unified state register.
"Recognize and grant permission for the compulsory execution of the arbitral decision," the document reads.
According to the findings of the Ukrainian court, Odesa port-side chemical plant must pay UAH 6.813 billion to Ostchem in repayment of debt for gas and fines on it.
As reported, Odesa port-side chemical plant owes NJSC Naftogaz Ukrainy about UAH 1.5 billion for gas.
Odesa port-side chemical plant, being in state ownership, produces chemical goods. It is engaged in ammonia transshipment to sea transport.