13:03 27.09.2018

Court obliges TAScombank to return $5.3 mln to Ukrzaliznytsia - PGO

2 min read
Court obliges TAScombank to return $5.3 mln to Ukrzaliznytsia - PGO

The business court, taking into account the position of the Supreme Court, on September 20 annulled its decision to collect $5.3 million (UAH 134.4 million) of a debt to TAScombank from Ukrzaliznytsia under a loan agreement with Donetsk Railways and obliged the bank to return the money, the Prosecutor General's Office (PGO) reported on Wednesday.

"The court applied overturning of execution of the decision and obliged the claimant to return the funds it had received," the PGO said.

The PGO said that the office joined the bank's case against Ukrzaliznytsia in 2017 and achieved the annulment of the decision of the business court, which was upheld by the appeal court, by the Supreme Court of Ukraine.

"The prosecutor in the new trial by the court of lower instance proved the groundlessness of the claims and the lack of legal grounds for collecting debts from Ukrzaliznytsia on the loan obligations of the enterprise located in the territory beyond Ukraine's control," the PGO said.

Earlier, Ukrzaliznytsia repeatedly said that the state-owned enterprise Donetsk Railways remains a legal entity and is not excluded from the public register, therefore, the legal succession in material legal relations for PJSC Ukrzaliznytsia after Donetsk Railways has not arrived.

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