IMU appealed to European Court against Ukraine

The consortium "Investment-metallurgical union" (IMU) appealed to European Court of Human Rights against Ukraine. The consortium demands to acknowledge illegal the Pechersky district court’s revision of the decision about legality of privatization of mining and smelting combine "Krivorozhstal".

According to Alexey Resnik, the advocate of "Investment-metallurgical union", Ukraine in the person of the Pechersky court’s judge violated the guarantees of Convention For Protection of Human Rights and Fundamental Freedoms, Article 6 (in the determination of his civil rights and obligations or of any criminal charge against him, everyone is entitled to a fair and public hearing within a reasonable time by an independent and impartial tribunal established by law), "Ukrainsky novosty" reported.
In opinion of Consortium, the reopening of case about the purchase of "Krivorozhstal" by the "Investment-metallurgical union" at the suit of Nazarova was unjust, the judge was not impartial, and the term of consideration was unreasonably rapid.

On February 17, 2005 the Pechersky court, satisfying the claim of Nazarova, abolished the decision, accepted on August 25, 2004 about legality of sale of 93,02% stocks of "Krivorozhstal" to the "Investment-metallurgical union".

This decision of the Pechersky court resulted in automatic abolition of determinations of the Appeal court of Kiev and Supreme Court, which confirmed legality of privatization of "Krivorozhstal".

On June 14, 2004 the "Investment-metallurgical union" purchased 93,02% stocks of "Krivorozhstal" for 4,26 milliards of hryvnyas.

56,25% stocks of "Investment-metallurgical union" belong to the company "System Capital Management", 43,75% to the corporation "Interpipe".

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