U.S. courts satisfy Naftogaz’s actions to seek evidence for claiming debt from Gazprom

13.12.2018, 16:05:11

A U.S. federal court in New York has satisfied Naftogaz’s actions seeking evidence on Gazprom’s assets in Europe.

On 6 December, Naftogaz filed actions in U.S. federal courts in New York and Texas in connection with its ongoing efforts to enforce a $2.6 billion arbitration award against Gazprom. Naftogaz filed the U.S. actions in order to gather evidence in support of upcoming litigation that it is preparing to commence in the Netherlands and Switzerland. Naftogaz’s actions seek evidence from the following five companies:

- GLAS Americas LLC, a finance-administration firm that is likely to have information about the location of Gazprom’s shares in its wholly owned Swiss subsidiary Nord Stream 2 AG. Naftogaz seeks information about the location of the Nord Stream 2 shares in order to file an action in Switzerland to attach them.

- Deutsche Bank Trust Company Americas, the US correspondent bank for the Moscow-headquartered bank Gazprombank, where Gazprom maintains an account. Gazprombank has a Swiss affiliate, Gazprombank (Switzerland) Ltd. Naftogaz seeks information from Deutsche Bank about Gazprom’s banking relationship with Gazprombank (Switzerland) Ltd.—including Gazprom’s bank account numbers—in order to file an action in Switzerland seeking to attach the funds in Gazprom’s accounts.

- Bank of New York Mellon, the manager of Gazprom’s American Depository Receipt program. Bank of New York is likely to have information about the recent transfers that Gazprom made of its shares in certain of its Dutch subsidiaries. Naftogaz seeks this information in order to file an action in the Netherlands against Gazprom for fraudulent conveyance. Bank of New York is also likely to have information about the location of the Nord Stream 2 shares and information about Gazprom’s bank accounts in Switzerland. Naftogaz seeks this information for the attachment actions that it is preparing to file in Switzerland.

- DeGolyer and MacNaughton Corp., an oil and gas consultancy that serves as auditor of Gazprom’s oil and gas reserves and is likely to have information about Gazprom’s upstream oil and gas projects, the corporate structure of those projects, and any plans to change the ownership structure of those projects. Naftogaz seeks this information for the fraudulent conveyance action that is preparing to file in the Netherlands.

- Gazprom Marketing & Trading USA Inc., an indirect subsidiary of Gazprom likely to have information about the recent transfers that Gazprom made of its shares in certain of its Dutch subsidiaries, about Gazprom’s bank accounts in Switzerland, and about the location of Gazprom’s shares in Nord Stream 2. Naftogaz seeks this information for the actions described above that is preparing to file in both the Netherlands and Switzerland.

A U.S. federal court in New York has already granted Naftogaz’s requests to gather evidence from GLAS Americas, Deutsche Bank Trust Company Americas, and Bank of New York Mellon have already been granted. Naftogaz is preparing to serve subpoenas on these companies with subpoenas in the coming days.
Naftogaz is awaiting decisions on its remaining applications and expects all of these by early next week in the actions filed against DeGolyer and MacNaughton Corp. and against Gazprom Marketing & Trading USA, Inc. Naftogaz filed both of these actions in U.S. federal court in Texas.


Corporate Communications Department
NJSC Naftogaz of Ukraine