Kyiv Economic Court Halts Examination of a Luhanskteplovoz Case

The Kyiv Economic Court yesterday decided to halt the examination of the case against the March 23 privatization of a 76% stake in Luhanskteplovoz (LTPL: BUY) brought forward by the Prosecutor General’s Office until the appeals process for a case by Dniprovahonmash (DNVM: N/R) is completed. Inna Perepelytsya: We expect that a similar decision will be made on the case from AvtoKrAZ (Finance & Credit). Dniprovahonmash’s appeal has already gone through two lower courts (most recently the State Property Fund won in an appeal court) and is currently before the High Economic Court. We believe a decision by the High Economic Court will be final as the Supreme Court is likely to refuse to hear an appeal and the decision will be reiterated on the two other pending cases.