Court in Amsterdam imposes restrictions on DTEK Energy under Sberbank of Russia’s $45 mln claim

The district court of Amsterdam on September 18, 2020 under a claim of Sberbank of Russia against DTEK Energy B.V. ordered to pay around $45.1 million and to take interim measures in respect of certain assets of DTEK Energy B.V. in the Netherlands. DTEK Energy said that these actions have no impact on the company's day-to-day operations of coal mining and electricity generation, the company is in dialogue with creditors on terms of the long-term loan restructuring.

DTEK Energy said in a press release on Monday that DTEK Energy and Russia's Obukhovskaya mine office is in dialogue with creditors on terms of the long-term loan restructuring. Both management and shareholders of the company have always followed clear principles, namely respect for the rights of creditors. The company adheres to these principles today, as it continues to engage in new negotiations with loan holders.

DTEK Energy CEO Dmytro Sakharuk said that today, energy sectors in many countries throughout the world are still being affected by the COVID-19 pandemic – energy consumption has yet to recover to its previous volumes, and price deterioration for commodities has not yet been completely overcome.

"The situation in Ukraine is further aggravated by the local crisis within the industry. In these conditions, the company is taking a number of measures to stabilize the situation and maintain the continuity of production processes, as well as finding a solution to long-term debt restructuring. We understand that creditors in such a situation are willing to use all possible methods to protect their interests," he said.

The company said that DTEK Energy continues to operate efficiently and is preparing for the 2020/2021 heating season.

Source: www.en.interfax.com.ua