Following an appeal to the Supreme Court, the Fund has achieved the reversal of the ruling regarding the collection of a multibillion debt from the Odesa Portside Plan

Upon consideration of the appeal brought forward by the State Property Fund, the Supreme Court has annulled the town of Yuzhnyi’s local court decision, according to which Ostchem Holding Limited had the right to claim 5.2 billion UAH of unpaid principal debt on the territory of Ukraine from PJSC “Odesa Portside Plant” and accrued interest totaling 1.57 billion UAH, in accordance with the arbitration award determined by the Arbitration Institute of the Stockholm Chamber of Commerce. This has already been communicated by the Head of the State Property Fund, Vitalii Trubarov, on his Facebook page.

“Disagreeing with the decisions of the courts of the first and appellate instances, the Fund submitted a cassation appeal to the High Court of Ukraine for the Consideration of Civil and Criminal Cases and a petition for suspension of the execution of the decision of the Court of the Yuznyi town in the Odesa region,” he noted.

As stated by him, following the decision of the Court of Cassation of the Supreme Court, the previous rulings have been overturned and the case sent for renewed consideration.

Vitalii Trubarov also mentioned that, at the end of July, a competition will be held for the selection of an advisor for the privatization of the Odesa Portside Plant, who will propose ways to address the toxicity of the company's liabilities.