112,3 million UAH agreement between Zaporizhyaoblenergo and Energomerezha Holding Company was invalidated after the NABU filed a suit

On Wednesday, 29 March 2016, the Kyiv Commercial Court sustained the second of five claims filed by the National Anti-corruption Bureau of Ukraine and invalidated Claim Assignment Agreement between Zaporizhyaoblenergo OJSC and Energomerezha Holding Company.

The court invalidated the agreement according to which Zaporizhyaoblenergo OJSC transferred the debt claim on the Zaporizhya Titanium-Magnesium Plant debt amounting to more than 112,3 million UAH to the Energomerezha Holding Company.

Legal consequences of invalid transaction are defined by article 216 of the Civil Code of Ukraine. Besides, the court decision that entered into legal force gives grounds for evaluating actions of officials responsible for signing the agreement as a part of the criminal proceeding investigation.

Judicial proceedings for the other three suits are in progress. 

It should be reminded that at the end of January/beginning of February the NABU filed 5 suits asking to invalidate agreements between the private firm Energomerezha Holding Company and Zaporizhyaoblenergo OJSC. According to the agreements the state's debt claim on the debts of major industrial enterprises of Zaporizhya region amounting to more than 346,3 million UAH was transferred to a private firm.