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Misen Energy AB: Essential events after the end of the H1 2020

As have been made public earlier, the Arbitral Tribunal rendered a second partial final award on 17 June 2020. The Tribunal directed the parties to agree on the value of the net assets. JSC Ukrgasvydobuvannya, Misen Enterprises AB and LLC Karpatygaz failed to agree on the net value of the joint property within 60 days. Accordingly, the parties requested the Arbitral Tribunal additional 30 days. The parties should revert to the Arbitral Tribunal by mid of September 2020. If the parties fail to agree on the net value of the joint property in accordance with the guidelines, the Arbitral Tribunal will determine the net value of the joint property in the final award. 

Misen Enterprises AB and LLC Karpatygaz seek to enforce the arbitration awards in Ukraine in order to receive compensation. In April 2020, Misen Enteprises filed a motion to enforce a consent award rendered by the Arbitral Tribunal on 26 March 2020. The court confirmed and recognized a consent award in June 2020. Additionally, in July 2020, Misen Enteprises AB filed a motion to confirm and enforce the second partial final award in Ukraine. The court hearing will be held on 11 September 2020.

As of today, Misen Enteprises AB and LLC Karpatygaz have not yet received any compensation under the arbitration awards. 

Source: Cision
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