NEK "Ukrenergo" signed a contract with Lalive S. A. (Switzerland) representation in the lawsuit against Russia on compensation of losses resulting from the annexation of the Crimea.

"Ukrenergo" has signed a contract with the Swiss company court of the Russian Federation for Crimean assets

This is with reference to Interfax-Ukraine reported Biznestsentr.

See also: Ministry blocks the development of a new electricity market – "Ukrenergo"

According to the company in the Prozorro, the contract on the provision of legal services at a cost of EUR1,537 million (or approximately 49.9 million UAH without VAT) was signed on 6 February 2019.

In the auction NEK also participated Covington & Burling, Hughes Hubbard & Reed, Quinn Emanuel Urquhart & Sullivan UK.

Lalive will provide a "Ukrenergo" services for the preparation and notification to arbitrate a dispute, the determination of the arbitrators and the composition of international arbitration, drafting claims and appeals to the arbitration, the representation of the interests of the company in the arbitration and the receipt of the decision.

As reported, Lalive represented in disputes against the Russian Federation concerning the lost investment interests of companies such as Ukrnafta, "Stabiae," Yukos Capital.

"Ukrenergo" in April of 2018 officially notified Russia about the beginning of the investment dispute over captured in the Crimea assets of the company. According to preliminary estimates of the Ministry of energy, only the cost of the grid company on the Peninsula is about $1 billion.

"Ukrenergo" performs the operation of trunk and interstate transmission lines, and centralized dispatching operation of the ECO. NEK is a state enterprise under the management of the Ministry of Finance. Will soon be transformed into a private joint stock company.


See comments →