“In Stockholm, the Court of Appeal confirmed the victory of Ukraine in the arbitration case on the claim of Ukrnafta’s shareholders of 2021. This was announced in the press service of the Ministry of Justice of Ukraine. On January 31, 2025, the Court of Appeal of SEA (Stockholm) rejected the statement of three Cyprus companies to cancel the arbitration decision in the case of Ukrnafta in favor of Ukraine. It’s about Littop Enterprises Limited, Bordo Management Limited and Bridgemont”, – WRITE ON: ua.news
In Stockholm, the Court of Appeal confirmed the victory of Ukraine in the arbitration case on the claim of Ukrnafta’s shareholders of 2021.
This was announced in the press service of the Ministry of Justice of Ukraine.
On January 31, 2025, the Court of Appeal of SEA (Stockholm) rejected the statement of three Cyprus companies to cancel the arbitration decision in the case of Ukrnafta in favor of Ukraine. It is about Littop Enterprises Limited, Bordo Management Limited and Bridgemont Ventures Limited.
The plaintiffs, which are collectively owned by 40.1009% of the shares of PJSC “Ukrnafta” are in the informal group “Privat” Igor Kolomoisky and Gennady Bogolyubov. In 2015, they initiated arbitration against Ukraine, demanding compensation of more than $ 6 billion with interest.
In February 2021, the Stockholm Arbitration Tribunal made a decision in favor of Ukraine.
The Court of Appeal of Sea has enshrined this decision.
“As a result of the consideration of the claims of LBB, the arbitration tribunal agreed with the position of Ukraine on the absence of jurisdiction in the tribunal to consider this dispute, which was confirmed by the Court of Appeal of SEA,” – said the Minister of Justice of Ukraine Viceremierk on European and Euro -Atlantic Integration of Ukraine.
By court decision, LBB is obliged to compensate Ukraine:
- $ 18.93 million expenses for arbitration proceedings with percentage of February 4, 2021;
- $ 2.67 million litigation for jurisdiction with interest on January 31, 2025;
- $ 549.7 thousand and 2,800 Swedish Crops of litigation on litigation with interest from January 31, 2025.
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