OREANDA-NEWS. April 28, 2008. Court trials and corporate conflicts using the illegal methods of pressure, as well as bribing the Ukrainian judges scare away the foreign investors.

“For normal development of the power sector of Ukraine the court trials concerning the enterprises are to be stopped”, says Pascal Julienne, the President of BPL Global energy company.

“As long as  they continue, the European investors will refrain from investments into the power sector of Ukraine”, he added.

The brightest example is the conflict about the rehabilitation (moving a company out of bankruptcy status) of Dneproenergo energy generating company. On 08 of April, 2008,  the Supreme Court of Ukraine cancelled the decision of 92% of Dneporenergo’s shareholders, who had voted for rehabilitation of OJSC Dneproenergo generating company by holding the bids and investors’ attracting.

At the same time the Court has satisfied the appeal of the minority shareholder IC Business-Invest (‘Privat’ Group), which owns only 0.00655 % of Dneproenergo shares.

And on 11 of April, 2008, probably having noticed the influence of Privat Group upon the Supreme Court judges’ decision, the President of Ukraine Viktor Yushchenko gave the order to take the additional measures to prevent the concealed influence upon the courts’ performance and law enforcement authorities. Also he suspended the effect of the CMU’s resolution #367-р, which included Dneproenergo into the list of the facilities to be privatized in 2008.