Three Year Gala Radio Suit Ends 

This dispute reached the highest official echelons both in Ukraine and the US; being cited repeatedly in the US Senate as an example of unreliable investments in the Ukrainian economy and was also heard in the International Court of Arbitration. Now it has been amicably settled well before the Kyiv session of the Kuchma-Gore Commission: Mr. Maliutin received, as he put it, "compensation that suits him." This happy ending of a three-year confrontation should be an argument in favor of the capabilities of US investments in Ukraine, and this should be its main legacy. However, as Mr. Maliutin himself complained at the press conference, it is mainly the lawyers who stood to gain from the suit.

According to Mr. Lemire, US investment in Gala Radio does not exceed the statutory 30%. The Leader Television and Radio Company also hopes to attract investment, but this time from Europe, and extend its broadcasting network to a large part of Ukraine.