Ukraine appealed against the decision of International arbitration on the need to compensate the British JKX Oil&Gas 11.7 million dollars. loss
The Ministry of justice has filed an appeal against the decision of the international arbitration of 6 February that he had ordered Ukraine to reimburse the company JKX Oil&Gas (UK) holding in Ukraine oil and gas assets, 11.7 million dollars. losses that she suffered because of the violation of Ukraine’s intergovernmental agreement with the UK on mutual protection of investments. This is stated in the message on the website JKX Oil&Gas.
“Yesterday afternoon the company received notice from the Ministry of justice of Ukraine in London’s High court about the call JKX as a Respondent in the petition, aimed at the abolition of the recent arbitration award against Ukraine in favor of JKX”, – stated in the message.
Related news: the justice Ministry commented on the decision of international arbitration on payment of Ukraine’s loss of the British JKX Oil&Gas
It is noted that the basis for appeal is that the court of arbitration, according to the Ukrainian Ministry of justice, made a serious mistake in the conduct of the arbitration proceedings.
We will remind, the international arbitration court ordered Ukraine to repay $ 12 million. losses of the British JKX Oil&Gas.
It was noted earlier that an oil and gas company JKX Oil&Gas has initiated arbitration proceedings against Ukraine under the Energy Charter Treaty and bilateral agreements on investment protection concluded by Ukraine with Britain and the Netherlands, demanding compensation of more than $ 180 million.
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