Sayenko Kharenko continues to successfully defend the interests of a major foreign investor in Ukraine – the Auchan Group of Companies – within the high-profile case on the illegal alienation of the belonging to the client land plots in the Odesa region of an estimated value of USD 10 million.
As part of defending the rights of the client, the Sayenko Kharenko team applied to the Temporary Special Commission for the Protection of Investors’ Rights (TSC) with a statement about illegal actions against the Auchan Group of Companies. During the consideration of the appeal, several TSC meetings were held, which resulted in the decision in support of the position of the Sayenko Kharenko’s client.
In particular, on 5 November, the TSC made its decision on response measures, including an appeal to the of the Prosecutor General’s office on the facts of violations of the rights of a foreign investor; conducting, inter alia, official inspections with the subsequent prosecution of officials involved in the illegal alienation of land plots; verification of the presence of intentional actions that entailed negative consequences for the foreign investor and Ukraine in general; as well as support in the pre-trial investigation of several criminal proceedings initiated by Sayenko Kharenko on the facts of illegal actions to alienate land plots.
Sayenko Kharenko’s counsel Zlata Simonenko commented: “The decision taken by the TSC is one of the examples when the parliament provides the crucial support to business in Ukraine. And when it comes to protecting the rights of a foreign investor and, as a consequence, increasing the investment attractiveness of the country, it is impossible to overestimate this support. I would also like to thank the People’s Deputy of Ukraine and the head of the TSC Halyna Yanchenko for her help and active position in considering our appeal. It is too early to celebrate the victory, but I am sure that we are on the way to a successful resolution of the sensational case.”
Counsel Zlata Simonenko and partner Sergiy Smirnov are working on this part of the project.