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RESOLUTION OF THE SUPREME ECONOMIC COURT OF UKRAINE

of May 30, 2007

About agreement cancelation

(determination of Trial chamber on economic cases of the Supreme Court of Ukraine of 19.07.2007 it is refused to open production on review)

Case No. 18/12

NAME OF UKRAINE

The Supreme Economic Court of Ukraine as a part of board of judges:

the chief judge - Drobotova T. B.

judges: Machulsky G. M., Shargal V. I.

with the participation of agents of the parties:

the claimant - Kostishena V. L. Dov. N130 of 14.12.2006.

defendants:

I - was not

The II - Kovalchuka V. V. Dov. N540-06 юр of 09.11.2006.

Having considered in proceeding in open court

writ of appeal of Private company of the Rice company

on determination of the Kiev Economic Court of Appeal of 14.03.2007.

on case N18/12 of economic court of Kiev

in the claim of Regional department of Fund of state-owned property of Ukraine for Kiev to

1. To affiliated enterprise Rice-investment Ltd of the Rice company

2. To private company of the Rice company

about agreement cancelation

ESTABLISHED:

The regional department of Fund of state-owned property of Ukraine for Kiev appealed to economic court of Kiev with the claim to Affiliated enterprise Rice-investment Ltd of the Rice company and Private company of the Rice company (further Rice Ltd) about agreement cancelation of purchase and sale of object of construction in progress of N504 of 27.08.97, the agreement of 24.06.03 about prolongation of date of completion of construction under the specified agreement and return of subject to privatization.

By determination of economic court of Kiev of 04.12.2006 (judge Mandrichenko O. V.) according to the called action for declaration proceeedings of N18/12 about appointment to consideration for 29.01.2007 are opened, however, determination of 29.01.2007 the economic court based on Art. 69 of the Economic Procedure Code of Ukraine extended dispute decision term sine die.

Without agreeing with determination of economic court of Kiev of 29.01.2007, Rice Ltd appealed to the Kiev Economic Court of Appeal with the petition for appeal in which asked to cancel the specified determination.

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