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Economy 2019-04-15T05:37:12+03:00
Ukrainian news
DPR And LPR Seize All Assets Of DTEK Energy On Occupied Territories

DPR And LPR Seize All Assets Of DTEK Energy On Occupied Territories

DTEK Energy Group says so-called Donetsk People's Republic (DPR) and Luhansk People's Republic (LPR) have seized all assets of DTEK Energy on the territory not controlled by the Ukrainian government in Donbas.

DTEK Energy Group announced this in a statement on the website of the Irish Stock Exchange, Ukrainian News Agency reports.

"As of 15th March 2017 assets of the DTEK Energy Group (the "Group"), namely DTEK Mine Komsomolets Donbassa PrJSC, Mospino CPE LLC, DTEK Energougol Ene PJSC, DTEK ZUYIVS'KA TPP (one of the three power stations of DTEK Skhidenergo LLC), DTEK DONETSKOBLENERGO PJSC, ELEKTRONALADKA LLC, DTEK Service LLC, and DTEK POWER GRID LLC, TEHREMPOSTAVKA LLC, DTEK SVERDLOVANTHRACITE LLC, DTEK ROVENKYANTHRACITE LLC which are located in the territory not controlled by the Ukrainian government (the "NCT") were seized by the so-called Donetsk People's Republic (the "DNR") and Luhansk People's Republic (the "LNR")," reads the statement.

The statement reads that all of the above assets are registered and have been operating in accordance with the legislation of Ukraine.

"All demands by the 'DNR' and the 'LNR' with respect to compulsory local registration are unlawful and unacceptable," reads the statement.

The DTEK Energy Group says it will use all available national and international legal means to protect its rights.

DTEK Energy Group says it will struggle for the assets seized by so-called Donetsk People's Republic (DPR) and Luhansk People's Republic (LPR), including at international courts.

The company announced this in a statement on its website, Ukrainian News Agency reports.

"I hope that the international court system and the supremacy of law will allow DTEK to renew management. Then we will be able to return to full-fledged operation," the press service quoted CEO Maksym Tymchenko as saying.

The company has applied to o the Ukrainian law enforcement agencies, State Fiscal Service of Ukraine, tax authorities and state funds.

DTEK has engaged legal companies to defend its interests at Ukrainian and international courts.

"The company sees as unacceptable the requirement on re-registration of our enterprises and no forms of pressure will make DTEK change the jurisdiction of its assets," says the company.

As Ukrainian News Agency earlier reported, since February 13, railway traffic across the boundary line has been almost completely blocked, so the coal mined in the NGC areas cannot be supplied to Ukrainian thermal power plants.

In late February, the terrorist organizations "Donetsk People's Republic" (DPR) and "Luhansk People's Republic" (LPR) announced introduction of the so-called "external management" at Ukrainian undertakings from March 1.

On March 2, 2017, the DTEK energy holding announced on the website of the Irish Stock Exchange that DTEK was in full control and management of all its assets in the non-government-controlled areas of the Donetsk and Luhansk regions as of 12 p.m.

On March 9, 2017, DTEK energy group's coalmining enterprises located in the temporarily non-government controlled (NGC) areas of Donetsk and Luhansk regions have stopped coal production.

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