Business
decisionsCourt releases Ukrinterenergo head, subject to house arrest
The Kyiv court of appeals has released the head of Ukrinterenergo State Enterprise Volodymyr Zinevych from pre-trail detention, however he will be held under house arrest, and is subject to a curfew from 21:00 to 07:00.
An Interfax-Ukraine correspondent has reported that judge Anton Chernushenko announced the decision, which partially satisfied the claims of the plaintiff.
Zinevych was detained on December 4, 2014 as a part of an investigation into large scale embezzlement, resulting from the signing of a contract to purchase South African coal. The initial decision of the court related to either arresting Zinevych, or releasing him on bail of UAH 365.4 million.
The Prosecutor General's Office believes that, due to the inclusion of additional specifications and amendments to the contract, the price of the coal rose from $86 per tonne to $134, while the quality of the coal did not meet required standards.
The company supplying the South African coal, Steel Mont Trading Ltd, has stated that the information published by the Prosecutor General's Office regarding Ukrinterenergo purchasing the coal at $134 per tonne is incorrect, and that the amendments to the contract set the price of coal at $107-110 per tonne, as delivered to the Trypilska and Zmiyivska thermal power plants.
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