All options are closed for Arricano's opponent in dispute over the Sky Mall
On January 5, 2018, the High Court of Justice in London has made a decision in a long-lasting dispute between Arricano Real Estate Plc and Stockman Interhold S.A. with regard to the exercising of the option for Assofit Holdings Limited holding company shares. By this decision, the High Court of Justice finalized and dismissed the Stockman's request to litigate judicial decisions in England on this matter.
After receiving the final judgment of the London Court, the Stockman's legal methods for court decisions' litigation in England have been exhausted. The Stockman's appeal was denied because there are no grounds for appealing the earlier decision of the High Court of Justice, which rejected all of Stockman's appeals against arbitral decisions of the London Arbitration Court.
The Stockman is obliged to transfer the Assofit holding company's shares to Arricano, which previously owned the Sky Mall shopping mall, at a price of USD 0.
As of the date of decision by the High Court of Justice of London, the Assofit Holdings Limited shares were not transferred, the Sky Mall shopping mall was not returned to Arricano. Mykhailo Merkulov, the CEO of Arricano Real Estate Plc, notes: «The dispute was considered, the court did its best in this case, our opponent should begin to implement the international arbitration's decision, to fulfill their contractual obligations with respect for the law. Arricano expects the return of the stolen asset, which will be a clear signal to international investors about positive changes in Ukraine's fight against corruption».