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Court cancels recovery of $55 million from Ukrzaliznytsia to Sberbank
14:41, 6 November 2017
Court cancels recovery of $55 million from Ukrzaliznytsia to Sberbank

The bank appealed to the economic court with a claim for recovery of funds from Ukrzaliznytsia as a debt under a loan agreement

14:41, 6 November 2017

insight-ukraine.org

Kyiv city prosecutor's office appealed against the groundless collection of over 55 million dollars from Ukrzaliznytsia in favor of Sberbank. This was reported by the press service of the Prosecutor's Office of Kyiv.

As it was reported, Sberbank, which is a 100% subsidiary of the Russian JSC Sberbank, appealed to the Economic Court of Kyiv with a claim to recover the funds from PJSC Ukrzaliznytsia as a debt under a loan agreement concluded between the bank and the state enterprise "Donetsk Railway" back in 2011.

However, because "Donetsk Railway" in a state of liquidation, the bank unreasonably decided to recover debts from Ukrzaliznytsia.

"In order to protect state interests and prevent illegal collection of a significant amount of money from an enterprise whose sole shareholder is the state represented by the Cabinet of Ministers of Ukraine, the Kyiv city prosecutor's office got engaged into consideration of this case," the press service added.

By the decision of the Economic Court of Kyiv from 20.03.2017, the suit of the bank was refused. Having disagreed with this court decision, Sberbank appealed to Kyiv Economic Court of Appeal.

At the moment, by the decision of the court of appeal, which agreed with the arguments of the Kyiv prosecutor's office, the bank’s appeal was not satisfied, and the decision of the Economic Court was left unchanged.

Related: Ukrzaliznytsia to buy new high-speed trains until 2020

As it was reported earlier the heads of Ukrzaliznytsia (Ukrainian Railways), Georgian Railway and Azerbaijan Railways signed a Memorandum on the cooperation and joint usage of the ferries of Ukrainian Railways in Odesa. 

‘Memorandum provides the creation of the joint enterprise on the operating of the ferries of Ukrzaliznytsia and development of the EU-Ukraine-Black Sea-Georgia- Azerbaijan-Caspian Sea-Asian Region Countries route’, the message said.

The Ukrainian Railways noted that two ferries ‘Plevna Heroes’ and 'Shipka Heroes’ are owned by the company. These ferries got the records on the right to property and on right of navigation under the state flag of Ukraine. ‘Shipka Heroes’ got the record on the nucleus crew.

Related: Ukraine, U.S. discuss modernization of locomotives for Ukrzaliznytsia

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