The Moscow Arbitration Court refused to take interim measures against Arctech Helsinki Shipyard, a Finnish company, in the amount of 371.052.470 euros.
According to the court’s decision, the United Shipbuilding Corporation requested the seizure of Arctech’s assets in the amount mentioned above and a ban on Arctech and Cyprus Cantis from taking any actions that could lead to a change in or termination of their legal relations.
These actions were based on accounts receivable arising from the shipbuilding contract on January 14, 2016 worth 7.1 million euros, as well as the assignment of this claim to third parties.
The court denied the request of the United Shipbuilders because they did not provide enough evidence to support their arguments.
In 2014, the Finnish shipyard Arctech Helsinki Shipyard Oy became part of the United Shipbuilding Corporation, but in 2019 it was bought by the Cypriot Algador Holdings Ltd.
In 2022, the United Shipbuilding Corporation was sanctioned by the US, EU, UK, and Canada for building military ships.
The United Shipbuilding Corporation is an open joint stock company established on March 21, 2007 in accordance with Russian President Vladimir Putin’s Decree. 100% of its shares are publicly owned. The Corporation is the largest shipbuilding company in Russia. It includes more than 40 domestic shipyards, design offices and ship repair yards.
