The Northern (Pivnichny) Economic Court of Appeals has upheld the decision of the Economic Court of Kyiv of September 11, 2019, which refused the State Property Fund of Ukraine (SPF) the satisfaction of the claim against Galtera LLC on the termination of the sale and purchase agreement for 94.6% of Dniproavia Airlines dated August 28, 2009.

The relevant decision in case No. 904/299/16 was published in the single court rulings register on January 27, 2020.

The SPF motivated its claim with the improper fulfillment by Galtera of the obligation to transfer the runway, the beacon system and the land plots on which they are located to state ownership until September 2, 2014.

In addition, according to the fund's estimates, Galtera LLC invested only UAH 142.1 million out of the agreed UAH 882.1 million in updating Dnipropetrovsk airport (including the reconstruction of the runway) until December 31, 2014.

As reported, the Economic Court of Dnipropetrovsk region in January 2018 accepted the statement by PrivatBank on financial claims in the amount of UAH 1.837 billion against Dniproavia within the case on the bankruptcy of the latter.