Saturday, July 21, 2018

Yekaterinburg Electric Grid Company Wins Supreme Court Decision

According to wire reports, the Supreme Arbitration Court of the Russian Federation pronounced legitimacy of the decision of the Federal Antimonopoly Service (FAS Russia) to dismiss the claim of "Yekaterinburg Electric Grid Company" OJSC.
In 2009, OJSC petitioned to FAS Russia to obtain possession and the right of use through a lease contract over the main plants constituting 100% balance sheet value of the main production assets of "City Grid Company" Ltd. to be able to provide services for transmitting electric power.
FAS Russia dismissed the petition explaining that the transaction can result in restricting competition. The company disagreed with the decision of the antimonopoly authority and filed a lawsuit.
Moscow Arbitration Court, the 9th Arbitration Appeal Court and the Federal Arbitration Court of the Moscow District dismissed the company?s claim and supported the decision of the Antimonopoly Service. / FAS Russia