The European Court of Human Rights decided that Ukraine is to pay 5 million euros to the Irish aircraft company

The applicant company, East/West Alliance Ltd., an Irish company based in Dublin with a representative office in Ukraine submitted a complaint to the European Court of Human Rights as 14 aircrafts owned by the company were seized in 2001 in the context of criminal investigations in Ukraine against another company that belonged to the same consortium as East/West Alliance. Several of the airplanes were subsequently sold to third parties while the judicial proceedings concerning the title to those airplanes were pending and the planes were impounded as an interim measure to secure the parties’ claims. In the judgment released January 23, 2014 the Court held that Ukraine is to pay the applicant company 5 million euros in respect of pecuniary and non-pecuniary damage and 8 thousand euros in respect of costs and expenses. The judgment becomes final three months after the date of the judgment, if reference of the case to the Grand Chamber would not be requested.