The Court of Appeal in Stockholm agreed with the argument that plaintiffs did not make an actual contribution to UKRNAFTA’s authorized capital.
Court of Appeal in Stockholm confirmed Ukraine’s success in case of arbitration in claim to sue UKRNAFTA. This was reported by the Ministry of Justice on its Facebook page.
“On January 31, 2025, the SVEA Appeal Court (Stockholm) refused to satisfy the statements of Littop Enterpriseslimited, Bordo Management Limited and Bridgemontvers Limited about the arbitration of the arbitration tribunal in case the Littop Enterprises case, Bordo Management, Bordo Management case Management limited and bridgemont ventureslimited V 2015/092), adopted on February 4, 2021 in favor of Ukraine.
The Cyprus Littop Littop Companies Limited, Bordo Management Limited and Bridgemont Ventures Limited, with a total of 40.100% of PJSC sharing UKRNAFTAIn 2015, the manufacture of arbitration against Ukraine was initiated, demanding compensation for more than six billion US dollars with interest.
Claims of the plaintiffs are based on several basic aspects:
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Selection of NAC’s gas Naftogaz of Ukraine From gas storages UKRNAFTA at low prices or no charge for population needs;
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failure to fulfill the decisions of Ukrainian courts to restore selected gas; Increasing rate of rent fee for subsoil use;
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Legislative changes to reduce the quorum to conduct a general meeting of joint companies of joint.
The court concludes Ukraine’s main argument that plaintiffs have not made an actual contribution to the PJSC authorized capital UKRNAFTAAnd therefore, they did not invested in accordance with the contract with the energy charter and did not have the right to file an arbitration claim.
By decision of the court, the plaintiffs are obliged to pay Ukraine:
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Costs for arbitration production – 18 927 177.62 US dollars, as well as interest in accordance with Article 6 of the Swedish Law of Interest from February 4, 2021 to the time of payment;
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Legal costs (for jurisdiction proceedings) – 2,669,131 US dollars, as well as interest in accordance with Article 6 of Swedish Law, beginning January 31, 2025 to the moment of payment;
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Court costs in case (for litigation for legal costs): 549,674 US dollars and 2,800 Swedish croes with interest in accordance with Article 6 of Sweden interest from January 31, 2025 to payment.
Concern, according to the results of the activities in 2023, OJSC UKRNAFTA Received a net income of 23.6 billion UAH.
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Source: korrespondent
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