Ukraine court upholds claim against Ferrexpo

(Sharecast News) - Iron ore pellet producer Ferrexpo said a Ukraine's court of appeal has confirmed a claim against it for around $125m as part of the long-running court case against its largest shareholder.

The company on Monday said it would ill file an appeal to the Ukraine's Supreme Court in Ukraine.

London-listed Ferrexpo, is facing several court cases or investigations by Ukrainian authorities trying to recover assets from founder and 49.5% shareholder Kostyantin Zhevago.

It said its operations remain unaffected. and a further announcement would be made "as appropriate".

Reporting by Frank Prenesti for Sharecast.com