newstodate.aero
Dec 14, 2012 (newstodate): The rift between the two partners behind the Ukrainian handling JV, Swissport Ukraine remains unsolved.
The two parties met at the second-level court hearing in Kiev on December 12, 2012, but no conclusion was reached.
Instead the juridical process will be continued at a new hearing on January 16, 2013.
-We are very happy to say that the court did not take a decision on December 12. Furthermore, they have set up January 16, 2013, for the next court ruling, which is exactly what Swissport International had planned, says Mark Skinner, Swissport VP Business Development and Projects, Division Europe, Asia, Africa and Middle East.
-If this second court verdict still supports the claims by Ukraine International Airlines and its owner, Mr Aron Mayberg, Swissport will indeed refer the case to the third and final level, Mr Skinner earlier told newstodate.
After UAI was taken over by Israeli national Aron Mayberg in 2011, Swissport Ukraine has been targeted by what it terms "a hostile corporate raider attack" by UAI and Mr Mayberg who claim that their minority rights have been violated by a suggestion from Swissport to recapitalize the JV.
UIA thus claim a right to take over the entire stake held by Swissport at a share price sharply under what Swissport estimates to represent real value.
In the meantime, Ukraine International Airlines has abrogated its handling contract with its own handling JV, Swissport International at Kiev, replacing it with a new contract with another provider owned by - itself.
The two parties met at the second-level court hearing in Kiev on December 12, 2012, but no conclusion was reached.
Instead the juridical process will be continued at a new hearing on January 16, 2013.
-We are very happy to say that the court did not take a decision on December 12. Furthermore, they have set up January 16, 2013, for the next court ruling, which is exactly what Swissport International had planned, says Mark Skinner, Swissport VP Business Development and Projects, Division Europe, Asia, Africa and Middle East.
-If this second court verdict still supports the claims by Ukraine International Airlines and its owner, Mr Aron Mayberg, Swissport will indeed refer the case to the third and final level, Mr Skinner earlier told newstodate.
After UAI was taken over by Israeli national Aron Mayberg in 2011, Swissport Ukraine has been targeted by what it terms "a hostile corporate raider attack" by UAI and Mr Mayberg who claim that their minority rights have been violated by a suggestion from Swissport to recapitalize the JV.
UIA thus claim a right to take over the entire stake held by Swissport at a share price sharply under what Swissport estimates to represent real value.
In the meantime, Ukraine International Airlines has abrogated its handling contract with its own handling JV, Swissport International at Kiev, replacing it with a new contract with another provider owned by - itself.