Ukrainian petrochemicals for Lukoil
Edited by Rhod Mackenzie / 2014-07-17 09:38:10
Oil and Gas Refining Russia Ukraine Petrochemicals Russia Oil and Gas Ukraine Oil and Gas Lukoil Oil Production and Refining
In June, the Ivano-Frankovsk region of the Ukraine held 2 court hearings that finished with the win for Lukoil.
Oriana JSC initiated the first suit against Lukor CJSC and Lukoil-Neftechem Ltd. The claim was to prove illegal the decision of Lukoil’s shareholders sessions that took place in November 2013 and January 2014.
There were similar demands made in the second suit initiated by the prosecutor’s office of the Ivano-Frankovsk region acting in favour of the Cabinet of Ministers.
The value in dispute was immense, over 1 billion grivnas, the debt of Oriana JSC to United Bavarian Bank. The court verdict actually shifted all payments on the Ukrainian tax payers.
