The DTEK group of companies, which is a division of System Capital Management Holding, belonging to businessman Rinat Akhmetov, filed a lawsuit against Russia with the International Arbitration Court of The Hague for the loss of Krymenergo assets after the annexation of Crimea, the Head of DTEK Maksim Timchenko said in an interview with Economic Pravda edition.
According to him, the size of the damage caused is estimated at "hundreds of millions of dollars", the company continues to calculate losses.
After the illegal nationalization of Krymenergo by Kremlin-backed authorities of Crimea, the group of companies appealed to the American law firm Covington & Burling LLP and forwarded a claim to the Russian government, to which it never received an answer.
“We needed to collect an evidentiary base, draft a request for the start of arbitration, a statement of claim, go through other procedures provided for by the arbitration rules.”
Timchenko further noted that the composition of the arbitration was formed.
The case is expected to move to the active stage of consideration in court in the spring - summer of 2019.
The final decision will be probably announced not earlier than the spring of 2020.
In 2017, DTEK demanded compensation from Russia in the amount of more than $ 500 million to compensate for the loss of the company's assets in the annexed Crimea.
Back in December 2016, the Head of DTEK stated that the company was preparing for legal proceedings over the alienation of the assets of Krymenergo by the occupation authorities of Crimea.
Meanwhile, Russia refuses to recognize the decision of the International Arbitration Court in The Hague on the payment of $ 139 million to 18 Ukrainian companies as compensation for property in the occupied Crimea.
The Permanent Court of Arbitration in The Hague registered eight lawsuits from 50 Ukrainian companies over assets in the Crimea for at least $ 7 billion.
Source: Economic Truth