Ilyich may be renationalized

The Ukrainian Constitutional Court hosted hearings on February 28 on the issue of the illegal privatization in 2000 of the state's stake in the country's steelmaker, Ilyich Iron and Steel Works of Mariupol (Ilyich). On the first day of proceedings, the constitutional court decided to suspend hearings on the case until all necessary information is presented before the court. The petition to pronounce the 2000 privatization of Ilyich null and void was approved by 47 deputies of the Verkhovna Rada (Ukrainian Parliament) in November 2004 and submitted to the constitutional court for consideration. In the event of a decision by the constitutional court to annul the privatization of Ilyich, an 88.5 percent stake in the mill will be retuned to the state's possession. In 2000, Ilyich-Stal bought the government's stake in the mill, raising it to 92 percent by 2006.