Today Pechersky district Court of Kiev abolished the previous decision about legality of privatization of "Krivorojstal".

The application of advocate Irene Nazarova was satisfied: the decision from August, 25, 2004 about acknowledgement of legal privatization of "Krivorojstal" was abolished and sale contract was declared invalid.

According to the advocate Nazarova, this decision is the first court decision, which does not acknowledge privatization of "Krivorojstal" as legal one according to the Ukrainian legislation.

We remind, that the "Investment-metallurgical union", created by the Ukrainian businessmen Victor Pinchuk (proprietor of group "Interpipe") and Rinat Ahmetov (president of Joint-stock Company "SKM"), was announced the winner of sell contest and acquired control packet of shares of "Krivorojstal" on June, 14, 2004. The winner paid 4 milliards 260 million gryvnas as opposed to starting price 3,8 milliards for 93,02-percent of state packet.

On February, 7, 2005 General Office of prosecutor of Ukraine put in an application with the requirement to abolish the decision about confession of legal privatization of "Krivorojstal" in Supreme Court. Materials are studied by judges.

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