Kyiv Appellate Court Affirms Legality of LTPL Privatization

In August 7 the Kyiv Appellate Court confirmed the legality of the March 23 privatization tender procedure of Luhanskteplovoz (LTPL: BUY). Inna Perepelytsya: This case brought forward by AvtoKrAZ (Finance & Credit) is one of three before the court system citing improper procedures by the State Property Fund. Note that on June 25 the court invalidated the LTPL’s sales-purchase agreement between the State Porperty Fund and Bryansk Heavy Machinery, following a lawsuit by Dniprovahonmash (DNVM: N/R). This case is currently before the High Economic Court.We believe that High Economic Court will make final decision after the parliamentary elections, be in favor of the State Property Fund, and uphold the ownership of Bryansk Heavy Machinery.