OREANDA-NEWS. May 07, 2010. Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN") hereby announces that it submitted, in the Court of Arbitration at the International Chamber of Commerce, the Statement of Claim against Yukos International UK B.V., headquartered in the Netherlands (“Yukos International”) regarding claims of payment of the amount of USD 250 million together with interest and costs of proceedings, reported the press-centre of ORLEN Lietuva.     

On 15 July 2009 PKN ORLEN submitted, in the Court of Arbitration at the International Chamber of Commerce, the Request for Arbitration, that initiated the arbitration proceedings against Yukos International in connection with transaction of purchase of AB Mazeikiu Nafta shares (currently AB ORLEN Lietuva). The Statement of Claim submitted by PKN ORLEN on 3 May 2010 specifies claims made in the request for arbitration and supports them by numerous evidences. The proceedings is running in London, in Arbitration Court composed of three arbiters, based on Rules of Arbitration Proceedings of the International Chamber of Commerce.

The requested by PKN ORLEN amount of USD 250 million in the arbitration proceedings was deposited in the escrow account, as a part of the payment for AB Mazeikiu Nafta shares in order to secure the potential claims of PKN ORLEN towards Yukos International in respect to differences between some Yukos International’s statements made on 14 December 2006 with the actual state of AB Mazeikiu Nafta.

PKN ORLEN reserved a right to increase its demands or to make additional claims, if it prove justified in the course of arbitration proceedings.

PKN ORLEN owns 100% of AB ORLEN Lietuva shares.