High Court upholds awards to Arricano in Sky Mall wrangle
Source - SMW
The High Court has dismissed challenges by Stockman Interhold against awards by the London Court of International Arbitration in favour of Arricano Real Estate.
Arricano said the High Court judgment was to be treated as the final in the long-lasting dispute between Arricano and Stockman in respect of the exercise of a call option of shares of Assofit Holdings Limited, a company that earlier owned Sky Mall shopping centre in Kyiv.
Arricano said the ruling brings an end to Stockman's challenge proceedings in respect of the LCIA awards as Stockman had now exhausted all legal remedies available to it bring such challenges.
Chief executive Mykhailo Merkulov said: 'The dispute has been duly considered and resolved by the High Court and it is now up to Stockman to begin the fulfilment of the awards in accordance with the law and its contractual obligations.'
At 8:20am: (LON:ARO) Arricano Real Estate Plc share price was 0p at 0.45p