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Corrupt Ukraine courts turning blind eye to corporate raiders targeting French firms – envoy

Corrupt Ukraine courts turning blind eye to corporate raiders targeting French firms – envoy
French companies trying to do business in Ukraine face corruption that severely undermines foreign investors’ trust, according to the country's ambassador to Ukraine, Isabelle Dumont.

“We have to deal with cases when our corporations face corrupt practices. They are deeply concerned over the fact. They are complaining about the problem to the embassy and the business ombudsman. We have to face the problem on a day-to-day basis,” the ambassador said in an interview with Ukraine’s 1+1 TV channel.

Dumont said that French private companies had been the victims of corporate raiders who are protected by the country's corrupt system of justice.

“The Ukrainian authorities are aware of the facts. They do not even deny their existence,” the official said. “When a company undergoes such a takeover and a Ukrainian court takes a raider’s side, one can appreciate the impact of that on the confidence of foreign investors in Ukraine.”

At the same time, the ambassador highlighted that Ukraine’s government does not always turn a blind eye to the problem.

“We cannot say that the Ukrainian authorities do not assist with the issue at all. Some government representatives are making possible efforts to help, as they understand absence of confidence means absence of investment, which is so vital for everyone,” Dumont said.

Last year, British Ambassador to Ukraine Judith Gough said that government and court system corruption in Ukraine remained the major hurdle for UK investors. The official stressed that creating strong social institutions, and a robust judicial system in particular, is vital for the country.

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