JKX Oil & Gas PLC High Court Claim by Ukraine dismissed (9027U)
October 30 2017 - 3:00AM
UK Regulatory
TIDMJKX
RNS Number : 9027U
JKX Oil & Gas PLC
30 October 2017
30 October 2017
JKX Oil & Gas plc
("JKX", the "Company"
High Court Claim by Ukraine dismissed
On Friday 27 October 2017 Sara Cockerill QC, sitting as a Judge
in the High Court of Justice of England and Wales, ordered that the
application brought by Ukraine seeking to set aside the recent
Uncitral arbitration award against Ukraine and in favour of JKX be
dismissed. The Government of Ukraine is accordingly therefore still
liable to pay to JKX the sum of USD11.8 million plus interest and
costs of USD0.3 million in relation to subsidiary claims, as
previously ordered.
The Judge also ordered that Ukraine should pay JKX's costs of
GBP61,908.65 within 14 days.
Commenting of the Judgment, Victor Gladun, JKX's acting CEO,
said, "We are pleased that the High Court recognised the merit of
our case. We hope that we can now reach an amicable resolution of
the other outstanding legal claims between JKX and Ukraine."
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Company's
obligations under Article 17 of that Regulation.
ENDS
EM Communications +44 (0) 20 3709 5711
Stuart Leasor, Jeroen van de Crommenacker
This information is provided by RNS
The company news service from the London Stock Exchange
END
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