Arricano has commented the third stage announced by Sky Mall
"At the moment, as it is known from public sources, a criminal case has been opened on the fact of illegal takeover of the land on which the Sky Mall is located. According to the Ukrainian laws, the construction of the third stage of this shopping mall will take place on the illegally taken site. Despite this, representatives of Sky Mall in the industry media, such as rau.ua, commercialproperty.ua and retailers.ua said that "the company has already finished the project, passed all the necessary approvals and began work on the pile field", and "preliminary agreements with retailers have already been signed..." Moreover, on May 5, 2016, the London Court of Arbitration adopted a final decision in the arbitration dispute between Arricano Real Estate Plc and Stockman Interhold S.A. in respect of the ownership rights to the shares of Assofit Holdings Limited, a holding Company that previously owned Sky Mall, located in Kyiv, Ukraine. According to this decision, all shares in Assofit Holdings Limited, previously owned by Stockman Interhold, shall be transferred to the ownership of Arricano Real Estate Plc. no later than June 5, 2016 for $ 0.
On January 5, 2018, the High Court of Justice in London decided in a dispute between Arricano Real estate Plc and Stockman Interhold S.A. with regard to the sale of an option to the shares of the holding company Assofit Holdings Limited. By this decision, the High Court of Justice finalized and rejected the request of Stockman to challenge judicial decisions on the matter in England.
On that basis, the construction of the third stage of Sky Mall, as well as any other actions of the current management of Sky Mall, are illegal and can become a subject of litigation in the future."