newstodate.aero
May 13, 2015 (newstodate): While it has become exceedingly difficult to keep record of the repeated court rulings and appeals in the fight between Swissport and its former JV partners in Swissport Ukraine, renamed Interavia, the outcome is at least twofold!
On one hand, Swissport has lost the battle after the latest ruling on November 26, 2014, as the Highest Economic Court in Kiev finally decided in favor of Ihor Kolomoyski and Aron Mayberg who became owners of Interavia after Ukraine International Airlines in 2011 which started the affair and controversy.
As the case has been dragging on and repeatedly shoveled between three court instances with conflicting rulings since then, Swissport has now decided that based on its experiences over the years it will not carry on pursuing the court cases.
On the other hand, Swissport now sums up its experience by warning other companies against entering business in Ukraine under the prevailing conditions.
-As long as the political and jurisdicial situation remain unfavorable for foreign investors and do not meet international standards, Swissport will not return to the Ukraine and cannot recommend other companies to enter the market.
-We leave it open to reconsider this decision, though, especially as we see a big potential in the Ukrainian market, says Swissport in materials provided to newstodate.
Swissport Ukraine launched business from June 1, 2006, with Ukraine International Airlines holding 29.4 percent of the shares in the JV.
On March 27, 2013 Swissport lost its majority share of 70.6 percent and the control over Swissport Ukraine, now renamed Interavia, to it new owners - and this has now been finally sealed.
On one hand, Swissport has lost the battle after the latest ruling on November 26, 2014, as the Highest Economic Court in Kiev finally decided in favor of Ihor Kolomoyski and Aron Mayberg who became owners of Interavia after Ukraine International Airlines in 2011 which started the affair and controversy.
As the case has been dragging on and repeatedly shoveled between three court instances with conflicting rulings since then, Swissport has now decided that based on its experiences over the years it will not carry on pursuing the court cases.
On the other hand, Swissport now sums up its experience by warning other companies against entering business in Ukraine under the prevailing conditions.
-As long as the political and jurisdicial situation remain unfavorable for foreign investors and do not meet international standards, Swissport will not return to the Ukraine and cannot recommend other companies to enter the market.
-We leave it open to reconsider this decision, though, especially as we see a big potential in the Ukrainian market, says Swissport in materials provided to newstodate.
Swissport Ukraine launched business from June 1, 2006, with Ukraine International Airlines holding 29.4 percent of the shares in the JV.
On March 27, 2013 Swissport lost its majority share of 70.6 percent and the control over Swissport Ukraine, now renamed Interavia, to it new owners - and this has now been finally sealed.