OREANDA-NEWS. July 22, 2008. The Federal Arbitration Court of the Povolzye District dismissed the cassation appeal of "Nizhnekamskneftekhim" OJSC that had petitioned to invalidate the lawsuit of the Federal Antimonopoly Service (FAS Russia) on imposing 70 958 476 Rubles 84 kopeks fine upon "Nizhnekamskneftekhim" OJSC, reported the press-centre of FAS Russia.

In February 2006, FAS Russia recognized that Nizhnekamskneftekhim" OJSC violated Article 5 of the Law "On Competition and Restricting Monopolistic Activity on the Goods Markets" (abusing dominant position on the goods market). The company fixed discriminatory rates for the services of ethylene transportation for "Caustic" CJSC (Sterlitamak).

Having considered the case, FAS Russia issued a determination to "Nizhnekamskneftekhim" OJSC requesting the company to stop antimonopoly violations and to transfer the unlawful profit - 70 958 476 Rubles 84 kopeks - to the federal budget.

"Nizhnekamskneftekhim" OJSC disagreed with the FAS Russia's decision and appealed; the Courts, however, concluded that the antimonopoly authority had established its case.

FAS Russia filed a suit to the Arbitration Court on forcing "Nizhnekamskneftekhim" OJSC to transfer illegally obtained profit to the federal budget. On 12th February 2008 the Arbitration Court of the Republic of Tatarstan sustained the claim of the Federal Antimonopoly Service. The Appeal Instance affirmed the ruling of the Arbitration Court and dismissed the appeal of "Nizhnekamskneftekhim" OJSC.

The Court of Cassation Instance also confirmed validity of the FAS Russia's decision.

"We very much hope that the ruling of the Federal Arbitration Court will draw a line under the two years of litigation, when "Nizhnekamskneftekhim" OJSC left no avenue unexplored to procrastinate execution of the decision which is self-evident for us and the rightness of which was confirmed by all court instances" - said Andrey Tsyganov, Deputy Head of FAS.