Misen Energy AB: Application to Enforce the Final Award by Consent Granted

On 5 January 2021, the Kyiv Court of Appeal granted the application filed by Misen Enterprises AB and LLC Karpatygaz to recognize and permit the enforcement of the Final Award by Consent in case No V 2016/114.

The Court ruled to issue a writ of execution to enforce the Final Award by Consent and ordered JSC Ukrgazvydobuvannia to transfer 1,337,978,132.11 UAH (47,060,537.16 US dollars, according to the official rate of exchange of US Dollar to Ukrainian Hryvnia set by the National Bank of Ukraine as of 5 January 2021) to Misen Enterprises AB and 1,001,242.74 UAH to LLC Karpatygaz. The parties may file an appeal against the court ruling with the Supreme Court within 30 days.

As of today, Misen Enterprises AB and LLC Karpatygaz have not received compensation from JSC Ukrgasvydobuvannya. Proceedings in relation to recognition and enforcement of other arbitration awards rendered in case No V 2016/114, including for compensation for the use of joint property and compensation of legal costs, are still pending before courts in Ukraine.

Source: Cision
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