Appeals Court Rules In Favor Of ZPST

On Friday, the Kyiv Appeals Court ruled in favor of an appeal made by Zaporizhstal (ZPST: Susp) of an earlier ruling by the Kyiv Economic Court, which had blocked the company’s plans to use a highly dilutive share issue to merge with its trading houses ( See our ANBs from April 20 & 27). This latest ruling found that ZPST’s plans are legal. Andriy Gostik:  We do not expect this ruling to mark the end of the legal battles surrounding ZPST.