KYIV, Apr. 6 (Ukrainian News) The High Arbitration Court on Thursday canceled a State Property Fund decision excluding England’s JP Kenny Exploration & Production from the list of founders of the Poltava Oil and Gas Company.
The ruling effectively recognizes JP Kenny as the 49 percent owner of Poltava Oil and Gas, a source in the court told Ukrainian News.
According to the source, the court canceled the results of the March 14 founders meeting, at which the SPF excluded JP Kenny as a founder of Poltava Oil and Gas and transferred its share in the company to Naftogaztechnology.
The conflict between JP Kenny and the SPF has its roots in a 1998 dispute over the division of a 26 percent share of the Poltava company that went up for grabs after the share’s original owner was liquidated as part of a reorganization.
