International Energy Group Burisma with assets in Ukraine announces that all legal proceedings and pending criminal allegations against its President Nikolay Zlochevskyi and operating companies of Burisma Group are fully closed.
The decision to fully close all pending legal proceedings and criminal allegations was the result of many months of full cooperation between the Office of the General Prosecutor and the legal team representing the Burisma Group. Further, the Burisma Group agreed that should an investigation determine that the Burisma Group owed outstanding taxes and/or fees that it would, without appeal, pay any and all outstanding taxes, fines and fees.
Following the Burisma Group’s full cooperation and willingness to submit to a thorough investigation and its findings, the Pechersk District Court of Kiev obliged the Prosecutor General’s Office of Ukraine to close the case against Mr. Zlochevskyi and remove him from the wanted list. As a result of the Court’s decision the PGO fulfilled the relevant court order. The Ukrainian court decision is fully consistent with the decision taken by the U.K. court on January 21, 2015 and expert’s opinion based on the results of forensic and economic expertise, dated February 6, 2015. After considering Nikolay Zlocheskyi’s activities in Ukraine from 2002 to 2014, the British court ruled in favor of Nikolay Zlochevskyi and obliged the UK Serious Fraud Office (the SFO) to pay the defendant’s costs. Moreover, as a result of the investigation, Burisma agreed to pay UAH180 millions of tax liabilities.
Over the last two years alone, operating companies of Burisma Group, paid more than UAH 5 bln. in tax liabilities to the budgets of all levels. Burisma is one of the top taxpayers of Ukraine that demonstrates its commitment to social responsibility and compliance with the best international business practices.
Independent Director of Burisma Aleksander Kwasniewski believes that this decision shows how far Ukraine has come in advancing democratic ideals, proving that politics does not affect court decisions.
“It is reassuring that the independent Ukrainian court managed to take the decision that is fully consistent with the decision made by the British court. For Ukraine, the decision on Nikolay Zlochevskyi and Ukraine’s largest gas producer Burisma will be also instrumental in making the country energy sufficient, since it will allow Burisma to increase domestic gas production as well as payments to the state budget. Especially today, Ukraine should be united over projects enhancing its defense capabilities and political independence. The country has already paid a high price with the revolution and its aftermath”, noted Independent Director of Burisma Aleksander Kwasniewski.
“The actions of the PGO and those of the Ukrainian court are clear evidence of Ukraine’s commitment to the rule of law and due process – twin pillars of democracy,” stressed former U.S. Deputy Assistant Attorney General Mr. John Buretta.
The President of Burisma Group Nikolay Zlochevskyi pointed out extensive cooperation with law enforcement agencies and judicial authorities of different countries.
“Since all legal proceedings against Burisma Group are closed, it will allow us to increase production volumes and the flow of foreign investments in Ukraine, consider attracting international companies in the country, fulfill social and investment responsibilities, as well as duly pay in full all required tax liabilities to the budget. This is a big step forward for Ukraine in general and Burisma Group, in particular “, admitted Nikolay Zlochevskyi.
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