Akhmetov is preparing a second lawsuit against Russia: income has increased significantly, but could be even more

08 August 2022, 16:04 | Economy
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Ukrtelecom, owned by Rinat Akhmetov, will file lawsuits against Russia demanding compensation for damages and the cost of destroyed, damaged and lost property due to Russia's full-scale military invasion of Ukraine. Igor Yaremchuk, Director of the Strategy and Business Development Directorate of Ukrtelecom, spoke about this in an interview with SPEKA..

According to him, the number of subscribers and income from the optical Internet increased significantly compared to last year, but the company's ambitions to start a full-scale war in this direction were much higher..

In general, Ukrtelecom calculated that the income from telecom services in the first half of 2022 is 6% lower than planned before the start of a full-scale confrontation.

Commercial rental income decreased by 27% compared to the pre-war budget, which, in addition to the occupation and destruction, is also associated with the outflow of tenants and the discounts provided.

The rate of connection to optics is 50% lower than the planned pre-war figures, despite the fact that in June alone we connected almost 8 thousand. clients.

Even migration within the country and abroad was considered as damage, which leads to an outflow of subscribers if they are outside the coverage area of \u200b\u200bUkrtelecom services.

Also, migration processes entail an increase in receivables, if the subscriber did not inform the company that he would no longer use the services and the subscription fee continues to accrue and accumulate as a debt.

The damage is currently estimated at UAH 450 million.. But the number is not final..

“This is the fair value of assets located in the temporarily occupied territories, where we were forced to stop our economic activities.. This amount may increase, because now the damage caused to the company's assets located in the territories controlled by Ukraine is being fixed and assessed,” says Yaremchuk.

The amount of UAH 450 million, for example, does not take into account the lost operating income (EBITDA) due to business interruption, which is currently estimated at at least UAH 14 million per month.

It is also unknown what will happen to some buildings captured by the enemy military, with the equipment of Ukrtelecom, which is used to provide services through the networks of Russian operators, as well as the admission of collaborators from local providers to the company's technological sites to provide services to the population of the occupied territories "

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According to Yaremchuk, there are many such examples..

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Recall that Rinat Akhmetov also filed a lawsuit with the European Court of Human Rights against the Russian Federation.. The businessman's lawyers will promote the thesis of human rights violations, which are expressed in the violation of property rights. Akhmetov will demand billions of dollars, but precisely as compensation for violated rights, and not as compensation for the value of lost business. Although lawyers do not hide the fact that these are interrelated figures.

Among the violated property rights, lawyers claim a blockade, looting, diversion of flows and destruction by Russia of grain and steel manufactured by SCM enterprises.

Moreover, Akhmetov asks to apply the pilot procedure to his case. That is, in case of winning, any owner of the affected business in Ukraine will be able to use this case for monetary compensation for their violated property rights.

And in fact, he will be able to demand from the Russian Federation in the European Court to pay compensation for lost property.

It is also important that Akhmetov asked to give the case a priority status, given the urgency and gravity of the situation..

According to the ECtHR procedure, this will allow considering a claim in a very short time, unlike ordinary cases, which in the European Court, in the absence of pilot cases, can be considered for years.




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