The situation around “Sky Mall” shall be considered by the Interdepartmental Commission

After the meeting of the Presidents of Ukraine and Estonia the situation around “Sky Mall” shall be considered by the Interdepartmental Commission on Protection of Investors’ Rights, Counteracting Misappropriation and Seizure of Enterprises at the Cabinet of Ministers of Ukraine.
On June 13, 2018, the Minutes of Session No. 6 of the Interdepartmental Commission on the Protection of Investors’ Rights, Counteracting Misappropriation and Seizure of Enterprises dated May 31, 2018 became available on the Government Portal. During the session the situation with “Sky Mall” and Arricano Real Estate Plc was considered.
In the Minutes of the meeting which was held by the Head of the profile Interdepartmental Commission - the First Deputy Prime Minister of Ukraine – the Minister of Economic Development and Trade of Ukraine Stepan Kubiv, a number of steps which shall be taken in response to the appeal of Arricano company to the profile Interdepartmental Commission of May 18, 2018 are indicated.
According to the decision of the Commission, the state bodies of executive power shall check the issues related to possible violation of the Laws of Ukraine, including court decisions, legitimacy of steps of responsible officials, compliance with legal procedures etc.
Ministry of Internal Affairs of Ukraine shall assume the extensive measures as for the arrest of the corporate rights of Prisma Beta LLC, take special control over the pre-trial investigation of re-registration of Prizma Beta LLC from Kyiv to Luhansk, in spite of judicial bans, mortgages on Sky Mall shopping mall, unlawful release from attachment, withdrawal of funds from Prism Beta, and tax evasion. The Ministry of Internal Affairs of Ukraine shall also check the systems of automated distribution of cases related to Sky Mall and Prizma Beta LLC in connection with possible interference with the operation of the above mentioned systems in the Holosiivskyi District Court of Kyiv, the Commercial Court of Kyiv, Kyiv Commercial Court of Appeal, the Higher Commercial Court of Ukraine during the specified periods and check the legitimacy of the opening of criminal proceedings against employees of Arricano company until June, 14.
Ministry of Justice of Ukraine shall provide information on law observance by authorities and officials of the state registration services during registration of ownership right to Sky Mall and the termination of Prisma Beta LLC until June, 14.
State Fiscal Service of Ukraine shall check law observance during the liquidation of Prisma Beta LLC, hold an additional check of financial and economic activity of this company for the period covering 5 past years until June, 14.
For the purpose of comprehensive collection of information and checking for violation of Law in Sky Mall case, the constitutional authorities are recommended to take steps to neutralize unlawful actions. The High Council of Justice is advised to inform the Interdepartmental Commission on the state of consideration of complaints filed by Arricano company, and the General Prosecutor’s Office of Ukraine is recommended to take special control over the pre-trial investigation of criminal proceedings of Sky Mall case.
Mykhailo Merkulov, General Director of Arricano Real Estate Plc, hopes that the consideration of cases related to violation of property rights to Sky Mall by the Interdepartmental Commission on Protection of Investors’ Rights, Counteracting Misappropriation and Seizure of Enterprises will drive from the dead-block the consideration of cases related to illegal actions of Prisma Beta LLC, violation of law related to ownership rights to Sky Mall and enforcement of judgments of international courts, according to which Arricano has the ownership right to Sky Mall.
“The return of Sky Mall to its legitimate owner was discussed at the highest level during the visit of the President of Estonia, when the presidents of both countries, Ukraine and Estonia, discussed the issues related to protection of rights of international investors; the fact that the issue of Sky Mall is on the agenda of the Meeting of the Interdepartmental Commission on Protection of Investors’ Rights, Counteracting Misappropriation and Seizure of Enterprises proves that the relationship between investors and the state is become more relevant than it was several years ago.
We hope that Sky Mall case which will be a litmus test for foreign investors, will become an example of a victory of the law supremacy in Ukraine, an evidence that the ownership rights in Ukraine are protected by the state and, as a result, will promote the desire of international investors to come to Ukraine, because compliance with the law is guaranteed in the country”.