RESOLUTION OF THE SUPREME ECONOMIC COURT OF UKRAINE

of February 12, 2002 No. 38/305

Disputes which are connected with collection of exchange differences

The Supreme Economic Court of Ukraine, having considered on proceeding in open court the writ of appeal of g. Ltd on the resolution of 08.11.2001 of the Donetsk Economic Court of Appeal on case N8/305 on the claim of g. Ltd to D LLC... about collection 15944, 05 UAH.

ESTABLISHED:

Of 08.11.2001 the decision of Arbitration Court of Donetsk region on case N38/305 is changed of 09.07.2001 by the resolution of the Donetsk Economic Court of Appeal.

G. Ltd, Donetsk, in the recovery suit with Ltd company "Д..., Druzhkivka, 9931, 27 UAH are refused as according to Art. 245 of Civil Code of Ukraine the allotted remedies of plants under the agreement shall be paid of 04.05.98 for the prices established by the agreement, and the specified amount is interexchange difference of cost of goods for the period from time of the conclusion of the contract to the address of the claimant with the claim.

Regarding the address of claim to property of the defendant on the amount 6012, of 78 UAH the judgment is left without change as it which meets the requirements of the legislation. This amount is the unpaid cost of goods expressed in national currency at the price provided by the agreement.

In the submitted writ of appeal of g. LLC, Donetsk, specifies that use of foreign currency for determination of the price in wholesale trade (in accounts, price lists, agreements) on condition of carrying out payments in hryvnias does not contradict the legislation as direct prohibition of application of expression of monetary commitment in foreign currency is absent, and on this basis asks to repeal the resolution of the Donetsk Economic Court of Appeal of 08.11.2001 and to make the new decision.

Judicial board, having checked available materials (the actual circumstances) put regarding their legal evaluation by economic Appeal Court of Donetsk region, having heard explanations of the agents of the parties who are present at meeting, came to conclusion about lack of legal basis for satisfaction of the writ of appeal proceeding from the following.

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