Weispir and Yevstratov companies in court over additional extraction at ten fields

Legal claim over the execution of an old contract

Companies «Carlton Trading Ukraine» and «Gals-K» have ended up in court proceedings, the subject of which is the issue of additional extraction. The conflict arose around the fulfilment of obligations under a joint activity agreement concluded with JSC «Ukrnafta» on 19 January 1999 (registration number 35/4).

In accordance with the terms of this document, «Gals-K» acts as the operator. During the court hearing, «Ukrnafta» was brought in as a third party without independent claims on the side of the plaintiff. This decision is linked to the fact that the company is a party to the agreement, and the outcome of the case may affect its rights and obligations.

Ownership structure and management

According to the Opendatabot database, brothers Vadym Weispir and Mykhailo Yevstratov are partners in both of the aforementioned companies. Vadym Weispir holds the position of head of «Carlton Trading Ukraine», while Mykhailo Yevstratov heads «Gals-K».

The distribution of shares in the companies is as follows:

• In «Carlton Trading Ukraine», Vadym Weispir owns 33.3% of the shares, and Mykhailo Yevstratov — 16.7%.
• In «Gals-K», the brothers' direct shares amount to 7.33% and 5.53%, respectively.
• Additionally, «Carlton Trading Ukraine» owns 33.33% of the shares in «Gals-K».

List of fields subject to the dispute

The statement of claim concerns additional extraction at ten specific fields. The court hearing aims to verify the fulfilment of the terms of the joint activity agreement between the companies and «Ukrnafta» regarding the following objects:

• Rybalhanske;
• Kachanivske;
• Velykobubnivske;
• Artyukhivske;
• Korzhivske;
• Skhidno-Rohintsivske;
• Anastasiivske;
• Pivdenno-Panasivske;
• Koziiivske;
• Zakhidno-Koziiivske.