RosUkrEnergo Court Win

By The Moscow Times

March 21, 2011

RosUkrEnergo, the gas trader half-owned by Gazprom, won an arbitration decision in Stockholm to collect about $532 million from Hungary’s Emfesz.

RosUkrEnergo was awarded $421 million for nonpayment of gas, $106 million in credit interest and 3.4 million euros ($5 million) in legal costs in the March 17 decision, Group DF, which controls Ukrainian businessman Dmitry Firtash’s stake in RosUkrEnergo, said Monday in a statement.

Emfesz’s counterclaims were dismissed, Group DF said. The Hungarian gas trader was seeking $820 million from RosUkrEnergo for breaking a contract, Vedomosti said Monday. RosUkrEnergo is also half-owned by Centragas Holding, a unit of Group DF, which has been in an ownership dispute over Emfesz.

(Bloomberg)

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