Hearings in the Hague (Netherlands) at the suit of the Republic of Tatarstan and the Ministry of land and property relations to Ukraine on PJSC “Ukrtatnafta” (Kremenchug refinery) is expected in March 2018.
This is stated in the tender documentation of the Ministry of justice of Ukraine, which on 30 August signed a contract with Winston & Strawn LLP (France) in the amount of $875 thousand for the provision of legal advice and representation.
Tatarstan considers, that Ukraine has violated the intergovernmental agreement between the countries on encouragement and mutual protection of investments of November 27, 1998 because of alleged illegal reinstatement of the Chairman of the Board “Ukrtatnafta” Pavel Ovcharenko and unlawful decisions of Ukrainian courts on the deprivation of the Ministry of his stake in the company.
As of the end of August 2017 is the exchange of written submissions of the parties .
As reported, Ukrtatnafta was established in accordance with decrees of presidents of Ukraine and Tatarstan in 1994 on the basis of the Kremenchug refinery. Earlier 18,296% of shares of “Ukrtatnafta” belonged to the structures close to “Tatneft”, the Ministry of property of Tatarstan owned 28,7788% of the shares, a further 8.6% of the shares owned directly Tatneft. However, as a result of litigation, the share of Tatarstan shareholders refineries were almost zeroed, and the enterprise acquired new shareholders close to the Privat group and businessman Oleksandr Yaroslavsky.
In 2008, the arbitration proceedings against Ukraine in accordance with the Russian-Ukrainian agreement on the encouragement and mutual protection of investments because of the situation around the “Ukrtatnafta” start “Tatneft”.
In 2014, the arbitration ruled in favor of the “Tatneft” and ordered Ukraine to pay the Russian company a compensation of $112 million plus interest. In the same year, Ukraine initiated proceedings in the court of Appeal of Paris, aiming at the abolition of these two arbitral awards, stating that the Tribunal had no competence to entertain the dispute, and one of the arbitrators did not meet the requirements of independence and impartiality. The court of appeal of Paris at the end of 2016 upheld two arbitration decisions obliging Ukraine to pay PJSC Tatneft of $112 million plus interest.
Thus “Tatneft” has addressed with statements on the recognition and enforcement of arbitral awards in US courts (District of Columbia), the UK (London) and Russia (Moscow).