Ostchem Holding Ltd has appealed to the Yuzhny City
Court of Odesa region with the request to recognize and enforce the decision of
the Arbitration Institute of the Stockholm Chamber of Commerce dated July 25 on
the recovery of $251.235 million from PJSC Odesa Port-Side Chemical Plant in
favor of Ostchem.
As stated in the ruling of the Ukrainian court,
Ostchem was refused the satisfaction of the petition due to improper execution
of the submitted materials.
The Stockholm arbitration decision provides for the
recovery of $193.258 million of debt for gas and $57.977 million of penalty
from Odesa port-side plant.
As reported, Head of the State Property Fund of
Ukraine Ihor Bilous in September 2016 announced the decision of the Stockholm
arbitration to recover $251 million from Odesa port-side plant in favor of
Ostchem.
No comments:
Post a Comment