November 26, 2014, the Supreme Economic Court of Ukraine confirmed UIA full ownership of Interavia LLC – one of the country`s largest handling providers rendering both passenger and aircraft ground handling services at the airports of Ukraine.
The cassation court ruling finalized the continuous headline-making trail of Ukraine International Airlines and Swissport International Ltd.
“The decision of the court with regard to acquisition by UIA 70.6% of nominal capital at Swissport Ukraine LLC owned by Swissport International Ltd is based on factual ground and is the legitimate way for the minority stakeholder to protect its violated equity rights, – noted Alexander Povar, Senior Associate at ECOVIS Bondar&Bondar Legal Bureau appearing for UIA. – Despite political leverage from Swissport International Ltd, the ruling of the Supreme Economic Court of Ukraine is both unprejudiced and objective”.
The corporate dispute of Interavia LLC (formerly Swissport Ukraine LLC) stakeholders commenced in 2012 when Swissport International Ltd (the former business interest amounted to 70.6%) singly and contrary to corporate management procedures decided upon boosting the nominal capital of Swissport Ukraine LLC and diluting UIA interest accordingly.
It took UIA just over 2 years to restore justice. Within this period dozens court hearings have been held.
For more information on UIA visit the company’s website www.flyUIA.com