Ukraine is trying to arrest the shares of "Nord Stream-2"

Kiev plans in this way to dislodge from the "Gazprom" argued in the Stockholm Arbitration 2,6 billion dollars.
31.05.2018
Kommersant
Origin source
"Naftogaz" began the procedure of imposing interim measures on shares of design companies Nord Stream AG and Nord Stream 2 AG, on Tuesday their offices were visited by Swiss bailiffs, "Kommersant" interlocutor confirmed. The Ukrainian company is going to arrest these assets in securing Gazprom's obligations to pay $ 2.6 billion in accordance with the decision of Stockholm Arbitration in late February. President of Ukraine Petro Poroshenko said that a similar procedure was launched in the Netherlands and Great Britain. Official documents for Gazprom are waiting for Gazprom.

"Naftogaz" began the collection procedure with Gazprom of $ 2.6 billion, which the Ukrainian company awarded in late February, Stockholm Arbitration. According to TASS, on Tuesday evening, Swiss bailiffs visited offices of Nord Stream AG (the Nord Stream project company) and Nord Stream 2 AG (Nord Stream-2).

The Nord Stream 2 AG was confirmed by Kommersant that on May 29 a resolution was issued to impose interim measures to collect debts from Gazprom. "We do not comment on the details of this legal procedure, but it will not affect the course of the Nord Stream 2 project," the company representative said. Commercial director of Naftogaz Yuri Vitrenko said on Facebook that interim measures are imposed on Nord Stream and Nord Stream 2 shares - that is, the bank accounts of the companies are apparently not affected, and their operations can continue in normal mode.

Interfax interlocutor in the Ukrainian government said that a similar procedure for debt collection, in addition to Switzerland, started in the UK and the Netherlands. At the same time, Gazprom has not yet challenged the imposition of interim measures, but, according to the source of Interfax, will do so. According to the New York Convention on the Recognition of Arbitral Awards, the plaintiff may try to enforce the arbitration award in the jurisdiction of any country that has signed the convention, but the legality of such execution must be recognized by the local court.

On the one hand, the company did not refuse to formally implement the arbitration award, on the other, it began the procedure for the termination of contracts for the supply and transit of gas for which arbitral awards were made, and also challenged both of these decisions in the state court of Sweden.
Now Gazprom is at risk, since the seizure of assets, if it takes place, will not only have an extremely negative effect on the market, but may also slow the progress of the Nord Stream-2 project.

Gazprom said that the company "became aware that Naftohaz Ukrayiny is taking action on the territory of Switzerland to enforce the decision of the Stockholm Arbitration of February 28, 2018 on the proceedings under the transit contract." "However, at the moment, Gazprom has not received any official notification under this procedure, so detailed comments can be provided only after a thorough examination of the documents when they officially go to Gazprom," the company said.

President of Ukraine Petro Poroshenko today held a meeting with the head of Naftogaz Andrey Kobolev, stressing that the procedure for imposing security measures on Gazprom's assets in the UK, the Netherlands and Switzerland has begun. "The process of enforcing the collection of $ 2.6 billion from Gazprom has become practical - today the encumbrance of shares and other assets of Gazprom in European countries, in particular in Switzerland, the United Kingdom, the Netherlands," he said. "My instruction, that we did not stop at these three countries, did our best to ensure receipt of the funds won," Mr. Poroshenko concluded.

"Naftogaz, in turn, said that he applied to the Swiss courts for a compulsory recovery of funds from Gazprom, and" the Swiss authorities have already taken action against Gazprom's assets on the territory of the country. " What are these measures, "Naftogaz" did not say.

Officials

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