Appeal favours Illichivsk Port
After a bitter wrangle lasting many years, the Odessa Court has upheld the termination of the concession agreement between Ukrtranscontainer (UTC) by the Port of Illichivsk on appeal.
The notice of the verdict appears on the Commercial Sea Port of Illichivsk’s website, although there is some confusion as to the history of the case with UTC’s lawyers and the company itself claiming the first victory, but this being denied on the sea port’s website.
UTC operated the venture in Illichivsk since August, 2005, and during this time put in a total investment of US$61m.
This included handling equipment, which helped increase the terminal capacity up to 850,000 teu. However, the handling equipment was confiscated by the port when UTC was locked out by the port authority in 2009, citing a law which states that anything that can been deemed as causing an overall “inefficiency for the Ukraine” is illegal. The port then went on to use the confiscated equipment itself.
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