Date: 6 months ago   Category: Energy

Naftogaz will pay the American lawyers $5.9 million for services in court in assets in the Crimea — Rambler News Service


Naftogaz of Ukraine will pay the American law firm Covington & Burling $5.9 million for protection of interests in 2019 within trial about loss of assets in the Crimea, it is said in the statement of Naftogaz. "The interests of Naftogaz in the claim against the Russian Federation for indemnification, caused illegal by expropriation of assets of group in the Crimea, are represented by the international law firm Covington & Burling LLP. The expected cost of purchase of services of Covington & Burling LLP for 2019 is $5.9 million" — it is said in the statement. As the Ukrainian company notes, in May, 2018 in the Hague oral hearings concerning jurisdiction and responsibility in this arbitration case came to the end. The question of losses will be considered and solved by tribunal at the second stage of consideration of the case, after decision on jurisdiction and responsibility. The company expects that the tribunal will make the first decision on matter in the first quarter 2019. In September, 2017 Naftogaz of Ukraine and six companies entering into the Naftogaz group – GAO "Chornomornaftogaz", "Ukrtransgaz", "Likvo", "Ukrgazvydobuvann", "Ukrtransnafta" and "Gas of Ukraine" – gave to the tribunal created at constant chamber of the Arbitration court in the Hague, the statement of claim about indemnification, the assets caused by loss in the Crimea for the sum about $5 billion. In March, 2018 the executive commercial director of Naftogaz Yury Vitrenko reported that the sum of the claim of Naftogaz to Russia for the Crimea taking into account percent is estimated at $8 billion.

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