17:02 17.10.2017

Ukraine asks court to suspend proceedings in $144 mln Tatneft case or postpone until 2018

Ukraine asks court to suspend proceedings in $144 mln Tatneft case or postpone until 2018

 Ukraine has requested that Moscow's Arbitration Court postpone or suspend proceedings in Tatneft's case to collect $144 million until 2018, an Interfax correspondent reported from the courtroom.

In April 2017 Tatneft requested that Moscow's Arbitration Court and the High Court of Justice in London enforce an international arbitration ruling from July 29, 2014 ordering Ukraine to pay the Russian oil company $144 million in compensation for the Ukrtatnafta case.

The lawyer representing Ukraine said that Ukraine had submitted an appeal to Russia's Supreme Court on the Tatneft case on October 16.

He also said France's higher court had received Ukraine's appeal of the international arbitration ruling which was being used as a basis for reviewing the case. He said the French court was expected to rule on the matter in the middle of 2018 and that if the French court dismissed the arbitration ruling then it could not be fulfilled.

Because of this, Ukraine requested that proceedings be postponed until July 15, 2018 or suspended until France's higher court finishes reviewing the case.

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