The Pecherskyi District Court of Kyiv on June 6 issued a ruling recognising in Ukraine the judgement by which the Arbitration Institute of the Stockholm Chamber of Commerce (Sweden) on December 28, 2012 approved the amicable settlement agreement between Ukraine and Vanco Prykerchenska (British Virgin Islands) in the dispute around termination of the Production Sharing Agreement on the Prykerchensky section of the Black Sea shelf, reads the Court's ruling, a copy of which Ukrainian News Agency has obtained.
"To recognise in Ukraine the final judgment [under conditions agreed by the parties], the Arbitration Institute of the Stockholm Chamber of Commerce (Sweden) handed down on December 28, 2012 in the case V (91/2008) Vanco Prykerchenska Ltd vs State of Ukraine," the ruling said.
This award can be appealed at the Kyiv Court of Appeal.
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