Poroshenko signs moratorium on debt collection from Ukroboronprom in favor of Russia

Poroshenko signs moratorium on debt collection from Ukroboronprom in favor of Russia

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Ukrinform
Ukrainian President Petro Poroshenko has signed the law introducing a moratorium on the collection of debt from the Ukroboronprom State Concern's enterprises in favor of Russia, the presidential press service has reported. 

"The law proposes mechanisms for the protection of the economic activity of defense industry enterprises included in the list of state-owned objects of strategic importance for the state's economy and security from the negative effects of the influence of legal entities registered in the territory of the aggressor state and/or occupying state or legal entities with foreign investment of the aggressor state and/or occupying state," the statement reads.

The law imposes a ban on the enforcement of decisions, including on the recognition and enforcement of decisions of foreign courts, in respect of debt collection under obligations where the creditor (debt collector) is a legal entity of the aggressor state and/or occupying state or a legal entity with foreign investment or a foreign enterprise of the aggressor state and/or occupying state, and the debtor is a defense industry enterprise included in the list of state-owned objects of strategic importance for the state's economy and security. 

The document also foresees the termination (for the period of the circumstances related to the debt of defense industry enterprises before legal entities of the aggressor state and/or occupying state) of enforcement proceedings and measures for the enforcement of decisions already opened and a ban on the opening of new ones regarding collection of arrears from a defense industry enterprise in favor of a legal entity of the aggressor state and/or occupying state or a legal entity with foreign investment or a foreign enterprise of the aggressor state and/or occupying state.

The law prohibits the conduct of proceedings in the case on bankruptcy of defense industry enterprises under statements from a legal entity of the aggressor state and/or occupying state or a legal entity with foreign investment or a foreign enterprise of the aggressor state and/occupying state.

As reported, on July 12, the Verkhovna Rada adopted a law establishing that the decisions of foreign courts in cases on debt collection from Ukrainian defense industry enterprises in favor of Russia cannot be recognized and enforced in Ukraine.

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