Rus News Journal

Judicial besperspektivy Tatneft

the company does not manage to defend the rights in courts of Ukraine

At Tatneft remains ever less chances to return to a share in the largest in Ukraine Kremenchug NPZ. Past Tuesday Minzemimushchestvo of Tatarstan has lost the cassation in the Supreme court where it tried to defend the right on 28,8 - a percentage share in Ukrtatnafte supervising factory. The same day the Economic court of the Poltava area has deprived Tatneft the last of 8,6 % of actions of the Ukrainian company. Chance of change of a situation at Tatneft can appear after presidential election in Ukraine, analysts believe.

the Supreme court of Ukraine on Tuesday has refused satisfaction of the cassation of Minzemimushchestva of Tatarstan on the decision of the Higher economic court which have deprived the Russian shareholders Ukrtatnafty (UTN) the largest package in 28,8 % of actions. The reason of write-off of papers in favour of UTN, group actually supervised now Privat Igor Kolomojsky, infringement Russian - the Ukrainian intergovernmental agreement 1995 is recognised. At formation in the joint venture it was planned to transfer oil-extracting assets in Russia, but then the payment form changed with the consent of all shareholders of the company: UTN there were no means for working out of deposits. The court tries to give to the document of 1995 the status of the international contract which it is not, tells a source in Tatneft . The paper has not been ratified that does not allow to consider as its part of the national legislation, it explains.

on the same bases on November, 3rd the Economic court of the Poltava area has decided to write-off Tatneft last Russian package UTN - 8,6 %. This decision will be challenged too, tells a source in Tatneft . Earlier SeaGroup International (USA) and AmRUZ Trading (Switzerland), under control to the Russian oil industry workers, have lost the rights to other two packages, in the sum of making 18,3 %. In the summer of a paper have been redeemed by the only thing uchast - anybody of the Ukrainian auction - structure Privata for 270 million dollars Tatneft considers this transaction fictitious.

the decision of the highest authority has actually deprived of the Russian partners of chance to return the largest package through the Ukrainian judicial system. However, the former shareholder will try to claim damages at the international level. In May, 2008 Tatneft has sued to Ukraine about infringement of the intergovernmental agreement on encouragement and mutual protection of investments. Claim consideration goes in the closed mode and will proceed in 2010. Now the sum of claims makes an order 2,4 mlrd dollars, however, she can grow to 5 mlrd dollars, assumed earlier the first zamgendirektora Tatneft Nail Maganov. While the Russian company managed to return 3,2 mlrd rbl. For this sum in September 75,9 % of actions " have been sold; Tatnefteproma belonging UTN. Auction was spent under the decision of arbitration of Tatarstan for collecting with UTN a debt for the raw materials earlier put Tatnef ­ tju on Kremenchug NPZ.

Activization of litigations on UTN is connected with future elections, the leading expert of the Center of a political conjuncture Dmitry Abzalov believes. On the eve of election of the president of Ukraine Privat close to present head of the state Victor Yushchenko, it hastens to be fixed on Kremenchug NPZ. The prospect of revision of judgements can appear after elections as chances g - n Yushchenko on re-election while are low, considers g - n Abzalov. In this case Tatneft will have an opportunity to agree with a new management of Ukraine if it is not possible to Igor Kolomojsky. But at such scenario Privat Obviously, will try to deduce from UTN liquid actives, the expert adds.

conflict History
May, 2007 - actions Ukrtatnafty belonging SeaGroup and AmRUZ Trading, are written off Ukrnaftogazom (it is redeemed by group Privat in 2004) in favour of NAK Naftogaz Ukraine and then into accounts most UTN.
on October, 22nd, 2007 - on a judgement the former chairman of the board Ukrtatnafty Pavel Ovcharenko is reinstated. During power capture it has discharged of work loyal to Sergey Glushko`s Russian shareholders.
After management change Tatneft stops deliveries of raw materials on Kremenchug NPZ and declares a debt over 420 million dollars for already shipped oil. Relations of the former partners are broken actually off, in courts the set of claims from both parties is considered.