As we write this, Swissport has already had its day in court – or, at the very least, its first day in the Highest Economic Court in Ukraine.
Today the court heard Swissport’s appeal of a lower court decision that stripped the ground handling service provider of its affiliate, Swissport Ukraine.
We wrote about that decision in our May issue (“Swissport Loses Out In Ukraine … For Now”) that allowed its former joint venture partner, which held a minority stake in the business, to take over a $30 million operation for a mere $400,000.
To recap, Ukraine International Airlines and its main shareholder, Aaron Mayberg, took Swissport to court after Swissport may … or may not … have mentioned a plan to increase its capital into Swissport Ukraine, which Swissport may … or may not … have actually done.
Two Ukraine courts agreed on the “may” and handed the whole company over to UIA, but did so in such dubious fashion that the jury – not that there was one – may still be out on the “may not.”
We will have to wait to hear what this court thinks. More interesting, however, is how Swissport took its case to that other court – the often times more reliable court of public opinion.
Consider what the international GSP has accomplished since it lost the Ukraine operation:
- Swissport asked the embassies of Switzerland and France (Swissport is owned by a French investment group) to support its recovery efforts.
- Swissport also turned to the European Union in order to substantiate the risks of foreign investment into the Ukraine.
- In addition, Swissport says “a very influential Ukrainian oligarch has offered to act as a facilitator.”
- With the Kiev government eager to integrate its economic fortunes into the EU, the government launched a committee for the investigations of “looting and expropriation,” otherwise known as the Anti-Raiding Committee, and put the country’s vice president in charge.
To date, the Anti-Raiding Committee has met twice with Swissport.
“Swissport has also submitted a concrete offer for an amicable solution to UIA via its facilitators and is still awaiting UIA’s or Mr. Mayberg´s reply,” the company stated in a press release posted yesterday.
