Kyiv Economic Court of Appeal has entirely overturned the decision by Economic Court of Kyiv dated October 13, 2010 on the suit of Naftogaz of Ukraine's subsidiary Ukrtransgaz against CJSC UkrGazEnergo to recover 860 million 874 thousand 366.04 UAH (1 USD - 7.96 UAH). This is stated in the court decision published on the single register of judicial information disclosure.
In addition, the court adopted a new decision, completely denying the claim.
UkrGazEnergo was founded in February 2006 by Naftogaz and RosUkrEnergo, with a statutory fund of UAH 5 million and the participants' contributions of 50% each.
From March 2006 to April 2008, the company was a monopoly supplier of gas to industrial consumers in Ukraine (from April 2006 to April 2008 - the monopoly importer of gas in Ukraine). UKRINFORM
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