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Jun 12, 2013 (newstodate): Swissport continues it fight against what it considers a hostile raid and take-over of its assets in the JV with UIA, Swissport Ukraine.
A meeting was scheduled for June 11, 2013, for a court appeal hearing at the Highest Economic Court in the Ukraine. And it did take place, lasting however only five minutes.
Both parties actually requested more time for preparations as the meeting was called with a short notice, and expectations are that a new hearing will take place within two weeks.
-We have not lost hope in achieving a solution to the issues, boosted by very positive cooperation with the Swiss and French Embassies in Ukraine as well as by support and active involvement of the Ukrainian government, the First Vice Prime Minister of the Ukraine, Serhiy Arbuzov, who has recently been nominated as the new Head of the Ukrainian Anti-Raiding Committee, says Sabine Meinitz, Swissport VP corporate communications & marketing.
-The Ukrainian government is naturally interested in seeing more foreign investments in the country, hence their support in this case.
-We may have lost some faith in legal justice in Ukraine, but given the latest developments we still hope for a fair decision, and Swissport has also submitted a concrete offer for an amicable solution to UIA via its facilitators and is still awaiting UIA's or Mr. Mayberg's reply, says Ms Meinitz.
Swissport Ukraine launched business from June 1, 2006, at Kiev Boryspil Airport in a JV with Ukraine International Airlines holding 30 percent of the shares.
A rift however developed after a Board Meeting on March 6, 2012, when Swissport raised the issue off the formal agenda of a future recapitalization of the JV.
While this was allegedly raised as a topic for discussion after the formal agenda only, UIA's owner since 2011, Israeli national Aron Mayberg claims that the carrier's minority rights were violated while Swissport Ukraine claimed it had been targeted by what it terms "a hostile corporate raider attack" by UAI.
In April 2013, a Ukrainean court ruling led to Swissport's loss of ownership in and control over Swissport Ukraine.
A meeting was scheduled for June 11, 2013, for a court appeal hearing at the Highest Economic Court in the Ukraine. And it did take place, lasting however only five minutes.
Both parties actually requested more time for preparations as the meeting was called with a short notice, and expectations are that a new hearing will take place within two weeks.
-We have not lost hope in achieving a solution to the issues, boosted by very positive cooperation with the Swiss and French Embassies in Ukraine as well as by support and active involvement of the Ukrainian government, the First Vice Prime Minister of the Ukraine, Serhiy Arbuzov, who has recently been nominated as the new Head of the Ukrainian Anti-Raiding Committee, says Sabine Meinitz, Swissport VP corporate communications & marketing.
-The Ukrainian government is naturally interested in seeing more foreign investments in the country, hence their support in this case.
-We may have lost some faith in legal justice in Ukraine, but given the latest developments we still hope for a fair decision, and Swissport has also submitted a concrete offer for an amicable solution to UIA via its facilitators and is still awaiting UIA's or Mr. Mayberg's reply, says Ms Meinitz.
Swissport Ukraine launched business from June 1, 2006, at Kiev Boryspil Airport in a JV with Ukraine International Airlines holding 30 percent of the shares.
A rift however developed after a Board Meeting on March 6, 2012, when Swissport raised the issue off the formal agenda of a future recapitalization of the JV.
While this was allegedly raised as a topic for discussion after the formal agenda only, UIA's owner since 2011, Israeli national Aron Mayberg claims that the carrier's minority rights were violated while Swissport Ukraine claimed it had been targeted by what it terms "a hostile corporate raider attack" by UAI.
In April 2013, a Ukrainean court ruling led to Swissport's loss of ownership in and control over Swissport Ukraine.