Naftogaz of Ukraine NJSC intends to conclude agreement with KWM Europe LLP for representation of their interests in London Court of International Arbitration on in the lawsuit filed by the minority shareholders of Ukrnafta PJSC, according to ProZorro system, EP reports.
The parties plan to sign the agreement, totaling 3 mln euros, the time of provision of legal services is until 30 August 2018.
The amount of the lawsuit is USD 4.674 bln. It consists of: USD 2.063 bln, which the minority shareholders of Ukrnafta claim to cover the losses of dividends; USD 932 mln, claimed to cover fine sanctions; USD 1.679 bln dollars to cover the losses of the cost of shares.
The Cypriot offshores of Kolomoysky and Bogoliubov, the companies Littop Enterprises Limited, Dridgemоnt Ventures Limited and Bordo Management Limited state that there exist four reasons for the lawsuit against Ukraine:
- Expropriation of gas, extracted by Ukrnafta PJSC or purchase of such gas at low prices by Naftogaz of Ukraine NJSC within several years;
- Change of corporate structure of Ukrnafta PJSC as the result of the change of the quorum for conducting the General Shareholder’s Meeting from 60% t0 50%;
- Ban of the individuals, appointed by the investors, from management of Ukrnafta
- Increase of rental fee for utilization of resources.
It should be reminded that 50%+1 shares of Ukrnafta belongs to the state, represented by the National Joint Stock Company “Naftogaz of Ukraine”, 13.6% each – the companies Littop Enterprises Limited and Bridgemont Ventures Limited, and 12.9% - Bordo Management Limited. 9.9% of shares of the company belong to other shareholders.
Igor Kolomoysky represented the interests of minority shareholders until June.
