Court acknowledged the privatization of "Krivorozhstal" legal

On April 21 Pechersky district court upheld the suit of the consortium "Investment-metallurgic union" (Kiev) and restored the decision of Supreme Court, made on December 2004 about admission of legal privatization of 93.02 % stocks of the mining and smelting combine "Krivorozhstal".

Pechersky court also closed the case at the suit of Irene Nazarova, the partner of the company "Law firm 'Sergey Kosyakov and partners'" and Pavel Ignatenko, the ex-deputy of Verkhovna Rada, who appealed to the court with request to adopt the privatization of "Krivorozhstal" illegal.

Pechersky district court motivated the decision by the fact that Nazarova and Ignatenko did not hand in an application for purchase of "Krivirozhstal" and were neither stockholders nor employees of the combine. Besides, the claimers are not corresponding to the criteria "industrial investor", who has a right to purchase control packet of shares of a "G" group enterprise, which "Krivorozhstal" appears.

Now the case about legal privatization of "Krivorozhstal" is listening in Economic Court.

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