The Supreme Court has turned down the principal claims of state-owned Ukreximbank against PJSC Ukrtelecom, ruling to collect UAH 795,344 of fine and UAH 85,122 of interest (3% per annum) from the operator in favor of the bank.

"The cassation claim of PJSC Ukreximbank is partially satisfied… [the court rules] to collect UAH 795,344 of fine and UAH 85,122 of 3% per annum from PJSC Ukrtelecom in favor of PJSC Ukreximbank," the court said in its ruling posted in the unified register of court rulings.

Thus, the Supreme Court upheld the rulings of the courts of lower instances, in particular, the ruling of the business court of Kyiv dated April 16, 2018 and the ruling of the Kyiv business court of appeals dated June 4, 2018.

The Supreme Court explained its decision, in particular, by the impossibility of collecting from Ukrtelecom the value of the bonds of the company to which the ownership of these bonds was not transferred.

"As you know, at present, a number of litigations are being held between LLC ESU and several banks regarding the debt obligations of ESU, the correct calculation of their size, and the order and terms of their repayment. At the same time, within the framework of these disputes, they tried to make claims not only to ESU as a borrower, but also to Ukrtelecom," Ukrtelecom Corporate Relations Director Mykhailo Shuranov told Interfax-Ukraine.

He also said that Ukrtelecom considers these claims to be groundless.

"The decision of the Supreme Court finally established this in relation to the claim of Ukreximbank. And the obligations (in the form of penalties and 3% per annum amounting to about UAH 880,000) established by this court decision in respect of Ukrtelecom will be fulfilled by the company in the due time," Shuranov said.