Bloomberg: German Uniper Managed To Take Hundreds Of Millions Of Euros From Gazprom

The tactic proved effective.

German energy company Uniper has achieved recovery from Gazprom. This became possible thanks to emergency court decisions in Germany.

This is reported by Gallup.

The source said Uniper received an amount in the triple-digit millions. It declined to say exactly how much it had received.

Lawsuits against Gazprom

After Russia's full-scale invasion of Ukraine began in 2022, Europe is facing an energy crisis. Gas supplies dwindled and multi-year contracts with Gazprom were effectively severed.

European energy companies including Eni, Engie, OMV, Uniper and RWE have launched arbitration processes to recover their losses. Most of these proceedings last for years, but Uniper managed to stand out.

How Uniper won faster than others

Uniper, once Germany's largest buyer of gas from Moscow, seized a legal opportunity and secured emergency court rulings.

In 2022, Uniper went to a regional court in Weiden, Bavaria, and then to Nuremberg. There, the company was entitled to recover €3.65 billion, then another €3.79 billion and finally €576 million.

Later, in June 2024, the company won a parallel arbitration for €13.5 billion. This strategy is only possible if there is a proven urgent risk, such as a threat to the company's existence.

Winning these cases, Uniper was ready to collect on the judgments. But to do so, it needed to identify Gazprom's claims against other companies.

At the end of 2023, Uniper began receiving money from Gazprom's debtors. The company declined to disclose from which accounts and counterparties the funds were recovered.

Not everyone has been able to replicate the success

Lawyers said Uniper's strategy worked because of its speed of action and evidence of a threat to its survival. "You have to prove the existence of an emergency. Uniper's existence was threatened," said lawyer Tino Schneider.

Other companies such as Orlen and RWE are pursuing arbitration but have not achieved similar payouts.

What helped recover the money

Uniper was able to find Gazprom's debtors and collect debts through them. According to lawyers, this method is one of the fastest ways to get funds, especially if it is impossible to enforce the judgment in the defendant's country.

"If someone manages to seize the asset first, you don't get anything anymore," said lawyer Schneider. "Uniper was quick and resourceful. It proved to be effective."

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