UNIAN
The Supreme Economic Court of Ukraine has rejected an appeal by the Ukrainian Chemical Products company, which is associated with Ukrainian oligarch Dmytro Firtash, on the renewal of its lease of Volnogorsk State Mining and Metallurgical Plant, the public relations department of the General Prosecutor's Office has reported.
"The prosecution authorities have prevented the illegal transfer of the integral property complex of Volnogorsk State Mining and Metallurgical Plant, estimated at UAH 430 million, for use by PJSC Ukrainian Chemical Products, which is associated with Ukrainian oligarch Dmytro Firtash," the statement reads.
The prosecutor's office noted that in 2004 the State Property Fund of Ukraine provided an integral property complex for lease to the mentioned company (the former name - JSC Crimean Titan).
It is reported that after expiry of the lease contract, the State Property Fund informed the company on its non-prolongation due to the fact that the property was intended for use by the state itself. The plant property was assigned to a state-owned enterprise United Mining and Chemical Company.
"Despite the fact that the state did not waive its right of ownership, but only provided the property for temporary use to PJSC Ukrainian Chemical Products, the latter tried to oblige the State Property Fund to transfer the property to a commercial structure for a new term, in connection with which the appropriate lawsuit was opened," according to the statement.
In this regard, in order to protect interests of the state, the Prosecutor General joined the proceedings. The court of first instance and the appeal court rejected the appeal of Ukrainian Chemical Products company. However, the latter appealed the court decision in the Supreme Economic Court of Ukraine.
On May 28, the court of cassation also rejected the company’s appeal and upheld the judicial decisions.
As UNIAN reported earlier, in 2004 the State Property Fund of Ukraine and Crimean Titan company controlled by a businessman Dmytro Firtash entered a contract on lease of the integral property complexes of Irshansk and Volnogorsk plants. In September last year the contracts expired, after which, according to the Cabinet of Ministers of Ukraine, the enterprises were transferred to management of Ministry of Economic Development and Trade.
However, Crimean Titan appealed to the court for recognizing its preemptive right to lease property complexes. In January 2015 Economic Court of Kyiv rejected the company’s lease appeal on Volnogorsk Mining and Metallurgical Plant, and in February that of Irshansk Mining and Processing plant.