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2017 October 19

Concerning the dispute with SBERBANK LEASING UKRAINE LLC (FINANCIAL LEASING CENTER LLC)

Since 2015 the Economic courts of Ukraine has been resolving a dispute concerning obligations to fulfill contract terms and recovery of UAH 352,987,637.88 in the case No. 910/21720/15 under the claim of SBERBANK LEASING Ukraine LLC against Karpatygaz LLC, Ukrgasvydobuvannya PJSC and Misen Enterprises AB.

In the first-round trial, the claims were dismissed both by the court of first instance and the court of appeal.

In the course of the new round (second circle) of the case consideration, SBERBANK LEASING Ukraine LLC changed the subject matter of the claim requesting joint recovery from the Respondents of USD 37,219,501.50 in the UAH equivalent, which on December 22, 2016 as per NBU rate amounted to UAH 983,687,827.48 and penalties in the amount of UAH 352,987,637.88.

On March 20, 2017, SBERBANK LEASING Ukraine LLC changed its name to Financial Leasing Center LLC, and its shareholders, from two Russian companies to Cyprus company (99% in the charter capital) and a natural person-citizen of Ukraine.

The court of first instance and the court of appeal unjustly satisfied the claim of Financial Leasing Center LLC in the amount of UAH 983,687,827.48.

In its turn Karpatygaz LLC position is that the claims of Financial Leasing Center LLC are unjustified and illegal, which is confirmed by the Judgment of the Supreme Economic Court of Ukraine delivered September 21, 2017 wherein unlawful Judgment of the Kyiv Commercial Court of Appeal as of July 12, 2017 and a Decision of the Kyiv city Economic Court as of 21.03.2017 in case number 910/21720/15 were annulled, the case was sent for a retrial (third circle) to the Kyiv city Economic Court.

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