Friday, December 15, 2017

Russian Supreme Arbitration Court sides with FAS Russia

The Supreme Arbitration Court of the Russian Federation has announced its decision legitimizing the decision of the Federal Antimonopoly Service that dismissed a petition from the Yekaterinburg Electric Grid Company.

The court's decision upheld the decision of the Federal Anti-monopoly Service to prevent the Yekaterinburg electric company from obtaining ownership of competing electric company City Network Company, Ltd. The decision relates to a 2009 Yekaterinburg Electric Grid attempt to obtain 100 percent of City Network's balance-sheet value of fixed production assets through a lease contract, UtilityProducts.com reports.

Yekaterinburg Electric Grid disagreed with the Federal Anti-monopoly Service's decision that the proposed transaction would restrict competition, and filed a lawsuit against the anti-monopoly service.

Following the lawsuit, the Moscow Arbitration Court, the 9th Arbitration Appeal Court and the Federal Arbitration Court of the Moscow District each supported the anti-monopoly authority's findings in turn. Now, the Supreme Arbitration Court of the Russian Federation has also sided with the Federal Anti-monopoly Service, bringing the Yekaterinburg Electric Grid Company's case to a close, according to UtilityProducts.com.