Court supported FAS in a dispute with a fishing company

The company, controlled by a foreign investor, was unlawfully harvesting aquatic biological resources. It attempted to challenge the actions of the antimonopoly body on depriving it of the catching right

FAS established that the person that controls “Atlantika” Ltd. [1] is a national of another country. He failed to provide this information in accord with Russian law on foreign investments in fishing.

Based on the inspection results, FAS initiated the procedure for forced deprivation “Atlantika” Ltd. of the rights for harvesting (catching) aquatic biological resources and issued a conclusion to the company on control by a foreign investоr before acquiring the harvesting rights by the user, which is prohibited by the Law on Fishing.

In the course of the judicial proceedings, FAS representatives proved that “Atlantika” Ltd., being under control by the foreign investor, was unlawfully involved in harvesting (catching) aquatic biological resources. Having considered the case, the Court supported FAS position and dismissed the claim of “Atlantika” Ltd.

According to Head of FAS Department for Control over Foreign Investments, Andrey Yunak: “FAS has been long taking measures to expose and counter unlawful activity on harvesting fishing resources that are of strategic importance for Russian state and the population. The fact that the position of the Antimonopoly Service was supported by the judiciary, and responsible federal executive body – Rosrybolovstvo, should become a clear signal for the violators of the law on fishing and foreign investments, an incentive to adjust the ownership structure of fishing companies in line with the current norms of law”.

[1] The company is involved in harvesting (catching) aquatic biological resources