The court suspended the ACU’s decision to seize the accounts of tobacco companies

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The court suspended the ACU’s decision to seize the accounts of tobacco companies

17.08.2020 News

The Commercial Court of Kyiv suspended the decision of the Antimonopoly Committee, which seized the accounts of tobacco companies as part of a forced fine of UAH 6.5 billion.

“The court rejected their request. We welcome this decision, since the arrest of accounts could endanger the normal functioning of large companies and negatively affect tax revenues to the state budget “, – commented the decision the head of the department for work with government, British American Tobacco Ukraine, Yuriy Rylach.

He also said that the Economic Court of Kyiv refused to overturn the decision of the AMCU on the company’s fine. “Unfortunately, the decision was not in our favor. We appealed to the Court of Appeal and now an appeal is open, “Rylach said.

The company also does not preclude the filing of international arbitration, this option is seen at its headquarters in London.

The court’s decision was also commented on Imperial Tobacco company. They noted that they had to pay a fine to avoid pressure and penalties, but would continue to appeal the AMCU’s decisions in court.

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