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Sayenko Kharenko Successful for Ukraine in USD 6.1 Billion Energy Investment Dispute

Sayenko Kharenko Successful for Ukraine in USD 6.1 Billion Energy Investment Dispute

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Sayenko Kharenko, working with lead counsel Latham & Watkins, has successfully represented the State of Ukraine in a USD 6.1 billion investment treaty dispute with Littop Enterprises Limited, Bridgemont Ventures Limited, and Bordo Management Limited, the minority shareholders of Ukraine’s oil and gas producer PJSC Ukrnafta. The dispute was heard by the Arbitration Institute of the Stockholm Chamber of Commerce.

According to Sayenko Kharenko, the dispute began on June 30, 2015, involving the question of possession of the natural gas pumped by Ukrnafta in the Ukrainian gas transportation system. According to the firm, the dispute also involved certain governmental measures, such as interference with prices and tax increase on oil and gas extraction, allegedly targeted at Ukrnafta and its minority shareholders.

According to Sayenko Kharenko, on February 4, 2021, a tribunal composed of Julian Lew, Yves Fortier, and Rodrigo Oreamuno declined jurisdiction over the claims.

Sayenko Kharenko team consisted of Partners Olexander Droug and Tatyana Slipachuk, Counsel Volodymyr Yaremko, Senior Associate Olesia Gontar, and Associates Alina Danyleiko, Olena Solonska, and Vladlena Lavrushyna.

The Latham & Watkins team reportedly included Hamburg-based Partner Sebastian Seelmann-Eggebert and London-based Partner Charles Claypoole and Associates Daniel Harrison and Thomas Lane.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com


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