The Commercial Court of the Luhansk Region ordered that the Russian Federation should pay over USD 292 million as damages to PJSC Alchevsk Coke Chemical Plant, one of the largest coke and chemical enterprises in Ukraine. The said court judgment was issued on 12 February 2024.
The Alchevsk Coke Chemical Plant is located on the temporarily occupied territory of the Luhansk Region. The enterprise was specializing in the production of coke for industrial enterprises and was one of the three largest producers in Ukraine. In April 2014, the Russian Federation occupied part of the territory of the Donetsk and Luhansk Regions, including Alchevsk, where the production facilities of the Alchevsk Coke Chemical Plant were located. The enterprise was “seized” and transferred into the hands of those controlled by the Russian Federation. In 2021, the Commercial Court of the Luhansk Region declared the Alchevsk Coke Chemical Plant insolvent and initiated liquidation proceedings.
Roman Marchenko, Honored Lawyer of Ukraine and Senior Partner at Ilyashev & Partners Law Firm, was appointed as liquidator of the enterprise. All registered claims against the Alchevsk Coke Chemical Plant amounted to UAH 52.61 billion. So far, the claims lodged by the first-ranking creditors have been paid in full. As a result of Russia’s armed aggression, the Alchevsk Coke Chemical Plant suffered significant material damage due to the loss of control over its assets, and the loss of profit caused by the enterprise’s inability to carry out its business activities. Consequently, the company was declared insolvent. The Commercial Court of the Luhansk Region upheld the claim of the Alchevsk Coke Chemical Plant in full, awarding it the above amount of damages.
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