Economy 2021-06-15T07:08:36+03:00
Ukrainian news
Appeal Court Overturns Court Ruling That Allowed Enforcement Service Collecting UAH 79.9 Million Of Dividends

Appeal Court Overturns Court Ruling That Allowed Enforcement Service Collecting UAH 79.9 Million Of Dividends Of Gazprom From Gaztransit

Russia, court, gas, Gazprom, Antimonopoly Committee of Ukraine, Gaztransit

The Kyiv Appeal Economic Court has overturned a ruling of the Economic Court of Kyiv of June 6, which allowed State Enforcement Service of Ukraine collecting UAH 79.877 million of dividends the Kyiv-based private joint stock company Gaztransit, in which Gazprom owns 40.2% of shares, intended to pay to Gazprom, as Gazprom is obliged to pay a fine of UAH 172 billion that the Antimonopoly Committee of Ukraine imposed on Russia's gas monopoly.

This is said in the court ruling of July 17 the wording of which was made available to the agency.

The State Enforcement Service applied to the Economic Court of Kyiv with a request to allow collection of UAH 79.877 million of dividends of Gazprom from Gaztransit as Gazprom is obliged to pay a fine of UAH 172 billion that the Antimonopoly Committee.

On May 31, 2017, the court denied the Service collecting the sum because there was no list of shareholders of Gaztransit entitled to receive the dividends for 2016 as at May 31.

The Service applied to the Economic Court of Kyiv again when the list of shareholders of Gaztransit entitled to receive the dividends for 2016 was ready.

On June 6, the Economic Court of Kyiv allowed the service to collect UAH 79.877 million of dividends of Gazprom.

The court of the first instance established that on April 28, 2017, shareholders of Gaztransit adopted a decision at their general meeting to pay 90% of net profit or UAH 209.066 million as dividends for 2016, including UAH 84.081 million to Gazprom. In compliance with an agreement between Ukraine and Russia on avoidance of double taxation, 5% of UAH 84.081 million or UAH 4.204 million shall be paid to Ukraine as income tax.

Gazprom and Gaztransit challenged the court ruling of June 6.

On July 17, the Kyiv Appeal Economic Court overturned the court ruling of June 6 because the decision of shareholders of Gaztransit envisaged that the dividends can be paid no later than October 27, 2017. The appeal court believes that at the moment of collection of the sum it belonged to Gaztransit, not to Gazprom, and the collection of the sum before October 27 violates the rights of all shareholders of Gaztransit.

As Ukrainian News Agency earlier reported, on June 29, Deputy Justice Minister Serhii Shkliar announced that the State Enforcement Service of Ukraine had collected UAH 79.8 million from Gazprom to the state budget of Ukraine.

On June 6, 2017, the Economic Court of Kyiv allowed the State Enforcement Service of Ukraine collecting UAH 79.877 million of dividends of Gaztransit intended to pay to Gazprom, as Gazprom is obliged to pay a fine of UAH 172 billion that the Antimonopoly Committee of Ukraine imposed on Russia's gas monopoly.

On May 16, the Higher Economic Court rejected Gazprom's request to cancel the fine of UAH 172 billion that the Antimonopoly Committee imposed on the company.

In May 2017, the State Enforcement Service opened proceedings on forcible collection of fine of UAH 172 billion (USD 6.5 billion) imposed by the Antimonopoly Committee on Gazprom for monopoly abuse in the market of natural gas transit through Ukraine and on arrest of Gazprom's property in Ukraine.

Gazprom owns 40.2% of the shares in the Ukrainian private joint-stock company Gaztransit, the Naftogaz of Ukraine national joint stock company owns 40.2%, and the Turusgas company (Turkey) owns 19.5652%.


News

ok