The Kiev Economic Court has refused to satisfy the ‘renationalisation’ claim of Ukraine’s State Property Fund (SPF) on the ownership of nationwide fixed telco Ukrtelecom. As reported by Liga.net, the decision rejected the SPF’s demands to terminate the 2011 privatisation contract of Ukrtelecom’s 92.79% owner Epic Services Ukraine (ESU) – a holding company subsidiary of Rinat Akhmetov’s SCM conglomerate – and fine ESU USD82 million for delays in fulfilling investment obligations. Earlier, in October-December 2017 a first-instance court and an appeal court satisfied the SPF’s lawsuit, but the Supreme Court overturned the decisions in July 2018 and referred the case for review, subsequently transferring it to the Kiev Economic Court.
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