Meat not benefited

In April, Ukraine will have to prove to the International Center for Settlement of Investment Disputes (ICSID) Non-involvement of state structures in the scandal with the importation of chicken meat in the country. Yesterday it became known the details of the claim Globex International trading companies and Global Traiding, who claim that did not receive money for chicken meat brought into the country under the state guarantees. Sources in Goskomrezerv argue that the payment was made, but with the delays, and sole responsibility for the failure of the contract lies with the little-known intermediary companies.

In November last year in the prospectus Eurobond NAK Naftogaz Ukrainy, among other risks that may face the holders of bonds of the company, said about the suit, filed by U.S. Globex International Inc. and Global Traiding Resources at ICSID in May 2009. They accused the Ukrainian State in breach of obligations on payment of poultry products worth $ 6.8 million and $ 28 million

The company Globex International said yesterday that in June-November 2008 together with Global Traiding supplied to Ukraine 31.7 thousand tons of chicken meat. This product has not been paid. Deliveries began after a meeting of their representatives with Prime Minister Yulia Tymoshenko in July 2008. Recall the importation of meat through the State Committee for State Material Reserve (Goskomrezerv), excluding customs duties Prime initiated in order to achieve lower prices for its domestic market. "She stated that the purchase of American meat - a priority issue for Ukraine and assured that the goods will be paid for," - told in Globex International. Responsible for negotiating with U.S. exporters Goskomrezerv was appointed as contractor, contract of sale - a private company Alan Trade. "Earlier Globex had no dealings with this company - she was appointed Goskomrezerv", - said the representative of Globex Linen Kogan. According to him, in the ICSID hearings will begin in April.

Globex International Inc .- trading company based in the United States in 1992, has offices in New York, Riga and Moscow. Specializes in the export of poultry meat and offal from the United States and the European Union.

Global Trading Resource Corp .- trading company based in the United States in 1994. Specializes in the trade of poultry meat, beef, pork and seafood in the United States, Eastern Europe and Asia. Major markets - Russia and Ukraine. Annual turnover - over $ 100 million owners of the company - Oleg Orlov and Arkady Gontmakher.

From the official comments in Goskomrezerv, Ministry of Justice and Company Global refused. Find information about the company "Alan Trade" on the Internet yesterday failed. However, a source in Goskomrezerv told that this is a private company that dealt with the customs clearance of goods of American companies and resell its enterprise system Goskomrezerv - Resurspostach. Then, this company implemented a meat on the domestic market, wholesale price 11.12 UAH /kg (in 2008, chicken meat worth in the Ukrainian retail 22-23 UAH /kg).

According to the companies themselves, the average price of imported meat was 7-8 UAH /kg. A source in Goskomrezerv told that the contracts for the supply of chicken meat from the United States financed from the special fund of the state budget: "They were paid, but with considerable delays. This led to the fact that American companies were forced to pay fines for simple goods to the port." According to the interlocutor, in Goskomrezerv sure to win in court the plaintiffs are unlikely to succeed - they did not have direct contracts with enterprises Goskomrezerv and its system. "Contracts are signed with the companyff9, Alan Trade", and to us with the claims may apply only to this company, "- said the source.

parties have equal chances to win in the process of ICSID, confident senior partner Bar Association "Volkov, Kozyak and partners Sergey Kozyak. "American companies can win it, if they prove that their investment was indeed damaged. Ukraine can win, if he proves that investment companies will not be harmed actions of public officials, or that they generally do not invest in the country," - says Mr. Kozyak. According to him, for ICSID will have special significance, who conclude contracts on paper - to the organization meeting will be invited to officials, there will be serious cross-examination of witnesses of the parties. ICSID decisions binding on the Ukraine, to challenge them is impossible.

loss in ICSID for Ukraine may have more serious consequences than for companies, said Mr. Kozyak. "This will not only lead to financial sanctions, but also to a deterioration of the country"s reputation in the international arena if the ICSID will record violations of international legislation of Ukraine or the use of corruption schemes," - he said. Earlier, the country did not lose a single case in ICSID.

Latin America: Bidding ended Monday in the red zone
Manipulation will rise in the price
Its a game. Internet trading has provided strong support the stock market

In 2009, individuals were given the opportunity to purchase securities without intermediaries via the Internet ...

European indexes fell on Monday 4 th day in a row - the longest drop in 2 months
If oil prices are approaching the mark of $ 70 per barrel, the level of 1400 points on the MICEX index can not resist
Negative external background may encourage market participants to sales, which resulted in the MICEX index could test the level of 1400-1405 points
Liquidity in the market is, but to flow in the action, it will selectively
Strong loss of Asian sited5as, minus futures on indexes and a falling U.S. oil prices leave no chance of "bulls"
"Bulls" can feel relatively quiet until the MICEX indexd13is not moving away from support for 1405-1410 points

Leave a comment