SPF, Odesa Port-Side Plant to challenge court decision to collect some $250 mln from plant in favor of Ostchem
Ukraine's State Property Fund (SPF) and public joint-stock company Odesa Port-Side Plant will challenge the decision of Yuzhny town court of Odesa region upholding the decision of the Arbitration Institute of the Stockholm Chamber of Commerce dated July 25, 2016 to recover about $250 million from Odesa Port-Side Plant in favor of Ostchem belonging to Dmytro Firtash.
The press service of the fund said that the fund does not support the decision of Yuzhny town court.
As reported, the Ukrainian court of lower instance upheld the decision of the Arbitration Institute of the Stockholm Chamber of Commerce to collect some $250 million from the plant in favor of Ostchem. According to the findings of the Ukrainian court, the Odesa plant must pay UAH 6.813 billion to Ostchem in repayment of debt for gas and fines on it.
Odesa plant also owes Naftogaz Ukrainy about UAH 1.5 billion for gas.
Odesa Port-Side Plant, being in state ownership, produces chemical goods. It is engaged in ammonia transshipment to sea transport.