The ruling has been upheld of the Commercial Court for Krasnoyarsk Territory regarding the settlement agreement between NTEK and the Russian Federal Agency for Fisheries

The Commercial Court for the East Siberian Circuit has confirmed that the judgement of the Commercial Court for Krasnoyarsk Territory is lawful and grounded, which approves the settlement agreement between the Yenisey Territorial Department of the Russian Federal Agency for Fisheries and NTEK JSC.

Please be reminded that the Russian Federal Agency for Fisheries demanded that a fine of RUB 58.6 billion should be recovered from Norilsk-Taimyr Energy Company JSC for damage caused to aquatic bioresources when Norilsk Heating and Power Station-3 spilled fuel.

The team of lawyers that represented NTEK JSC included Yulia Yurchenko, a Senior Associate at Pepeliaev Group. The parties concluded a settlement agreement whereby NTEK JSC is to fully compensate for the damage caused to aquatic bioresources in kind, i.e. the company will release juveniles of various types of fishes into the Yenisey and/or Norilo-Pyasinkaya lake and river system.

Moreover, the company will finance large-scale research aimed at monitoring the condition of aquatic ecosystems and aquatic bioresources of the Norilo-Pyasinkaya lake and river system and at developing recommendations on how to compensate for the harm resulting from the accident.