Ukraine Court Snubs Deripaska Appeal to Retain Zalk Plant Rights
Kiev’s economic court of appeal supported the decision to overturn a sale agreement and return a 68.01 percent stake in Rusal’s plant to Ukraine’s state property fund, the prosecutor- general’s office said today on its website.
Prosecutors have claimed the Russian company refused to refinance $75.5 million of debt owed by the plant, known as Zalk, and violated the rights of the state property fund.
Rusal will appeal to Ukraine’s supreme economic court, a spokesperson said by e-mail, declining to be identified.
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