DUSHANBE - The subsidiary of Group DF belonging to Ukrainian businessman Dmytro Firtash has filed an appeal to the Higher Economic Court of Tajikistan against the decision of the lower-level court on the nationalization of Tajik Nitrogen, reads a court statement.
The complaint was filed by the authorized representatives of Ostark Ventures Ltd., part of Group DF.
“The cassational appeal of the authorized representative of Ostark Ventures Ltd. against the decision of Khatlon court came to the Higher Economic Court of Tajikistan on July 31 and is currently under consideration,” reads a statement.
The trial on Tajik nitrogen was held on June 23 this year. The court invalidated the contract on the sale and purchase of 75 percent in Tajik Nitrogen by Ostark Ventures Ltd. (affiliated with Group DF) due to “the investor’s failure to fulfill the commitments undertaken.” Under the agreement, investors should ensure the operation of the plant, however it has been standing idle for three years. The investors believe that force majeure conditions are valid: the enterprise cannot operate without natural gas, which is not supplied to the republic as Uzbekistan refuses to resume gas exports to Tajikistan.
