British American Tobacco loses appeal on AMCU fine, may seek intl arbitration
On January 26, the Northern Commercial Court of Appeal rejected a complaint of British American Tobacco Sales and Marketing Ukraine (BAT) against the decision of the Antimonopoly Committee of Ukraine (AMCU) on a fine of UAH 80 million, the company said on Wednesday.
"We will file a cassation appeal [...] We are considering the possibility of applying to international arbitration to protect our rights and legitimate interests as an investor under the agreement between the government of Ukraine and the government of Great Britain on the promotion and mutual protection of investments," the company told Interfax- Ukraine.
In a press release, the company said the court did not properly examine all the evidence in the case, did not give a proper legal assessment of the facts and norms of the applicable law.
"Such decisions undermine any plans for investment in the Ukrainian economy and cause unjustified damage to our reputation as a reliable corporate citizen," the company said in the press release.
The company said the imposed fine has already been paid. "We emphasize that the payment of the fine does not mean that we recognize the conclusions of the Antimonopoly Committee and the decisions of the courts of two instances. The payment of the fine was carried out solely to avoid the accrual of penalties," the company told Interfax-Ukraine.