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Parliament releases Ukrainian companies from paying penalty to Russian companies

Companies from the Russian Federation indeed “in abuse of their rights began applying to Russian courts for debt recovery, collection of penalty interests or other punitive sanctions, despite the force-majeure events, Ukrainian companies appealed to”
16:58, 12 July 2018

ukrinform.ru

Ukrainian parliament signed a bill to a law, releasing the defense enterprises of strategic importance for Ukraine from payment of the penalty to the companies from the aggressor-state. 244 MPs voted in support of the bill.

According to the explanatory note, the Ukrainian companies from the military-industrial complex failed to carry out their obligations and to deliver military goods and dual-use commodities due to the limitations imposed by the President of Ukraine due the armed aggression of Russia in Donbas.

It is also noted that the companies from the Russian Federation indeed “in abuse of their rights began applying to Russian courts for debt recovery, collection of penalty interests or other punitive sanctions, despite the force-majeure events, Ukrainian companies appealed to”.

Thus, the Verkhovna Rada of Ukraine forbids to collect the delay interests from Ukrainian companies of the military-industrial complex that ran into debts to the companies of the aggressor state. In particular, this is true for the companies, registered in such a country, or with it’s executive body on the territory of such a state, or companies managed by the aggressor-sate.

Related: Ukroboronprom to modernize air defence system Pechora, - Poroshenko

Thus parliament puts an obligation to ban mandatory recovery the debts from Ukrainian companies of the military-industrial complex and to terminate the existing proceedings and not to open the new ones.

The document also forbids to initiate proceedings in the bankruptcy of Ukrainian companies of the military-industrial complex.

The law comes into effect the next day after official publication

Related: Ukroboronprom ranked 62nd among world’s top weapon manufacturers

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Comments
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Wolf Angel

Member since: 17.06.2018

Messages: 4

13 July 2018, 09:19
It might help if Russian soldiers hadn’t invaded the Donbas, if Russian ‘humanitarian aid’ troops hadn’t stripped the factories inventories, and then stole the factories machinery itself. Oh, and hadn’t perpetrated an act of war in occuping Crimea. Just another thing Ukraine should take Russia to court over internationally.
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