News (#12 December 2016)


Bank Veles makes court cancel license revocation

The bank Veles, which was withdrawn from the market due to money laundering and attempts to siphon off USD 460 million abroad, made the court cancel revocation of its license. The regulator promises to prevent the return of the license to the bank, and is already preparing an appeal to the Supreme Court.Moreover, according to the head of the National Bank of Ukraine, courts also resumed operations of the bank Soyuz, which was withdrawn from the market due to fraudulent transactions. National Bank of Ukraine governor Valeria Gontareva has assured that the NBUshall not allow the activities of these banks and urged law-enforcement agencies to deal with them.


Metinvest wins suit against ISD metallurgical complexes

Steel and mining company Metinvest has obtained judgments to recover debts and fines totaling more than UAH 9.7 billion from the companies belonging to Industrial Union of Donbass corporation, namely from the Dneprovsky Iron & Steel Works after F. Dzerzhinsky and Alchevsk Iron & Steel Works. According to judicial decisions delivered by the court, Alchevsk Iron & Steel Works should pay the applicant principal amount of debt, fines and 3% per annum in the amount of UAH 675.6 million. Dneprovsky Iron & Steel Works after F. Dzerzhinsky should pay UAH 537.8 million. The court decision shall come into force after end of the period for filing of an appeal and its consideration. A reminder that in February 2016 Metinvest brought actions to the court against ISD metallurgical complexes totaling UAH 23 billion. Most of the litigation is still ongoing.


Antonov lodges protest against Ministry of Defense of RF

The Moscow Arbitration Court ordered the recovery of RUB 180.3 million in the form of a penalty (about USD 2.8 million) from Ukrainian State Aircraft Enterprise Antonov in favor of the Ministry of Defense of the Russian Federation. The statement of claim contained demands to recover RUB 357.4 million rubles from the defendant.The contract on performance and delivery of design and development works on creation of An-70 aircraft was signed between the Ministry of Defense of the Russian Federation and Antonov.But in May 2015 the Ukrainian government announced the termination of military and technical cooperation with Russia. The state concern was removed from the Russian-Ukrainian joint venture company UAC — Antonov. Cooperation to create the AN-70 aircraft was halted.As it turned out, the Antonov state enterprise is preparing an appeal against the decision of the Moscow Arbitration Court on recovery of a penalty of RUB 180.3 million.The airline company Antonov Airlines will unveil a new office in Britain from 1 January 2017 — the company Dreamlifts Ltd, which will offer transportation services by the AN-124-100 Ruslan aircraft without the participation of the Russian airline Volga-Dnepr.


Court arrested trade center Gulliver over bank loans

The Shevchenko District Court of Kiev arrested the retail and office center Gulliver in Kiev in a case over investigation of the bankruptcy of Bank Mykhailivskyi, which, together with Gulliver, belongs to Victor Polishchuk. During the investigation of theft by Bank Mykhailivskyi, it was established that the owner of the bank is LLC Ekosipan, 92.5% of which is owned by Mr. Polishchuk. As is known, several years ago Oschadbank provided the company Three O, which manages retail and office center Gulliver, with loans credit of USD 460 million while the market value of the collateralized property was almost half of this sum. The Kiev Prosecutor’s Office expects to bring to justice the owner of the network for sale of household appliances and electronics Eldorado and of the retail and office center Gulliver, Viktor Polishchuk, for bankruptcy of Bank Mykhailivskyi, in which he previously owned 92.501% of the share capital. Earlier, the Shevchenko District Court of Kiev arrested the former chairman of board of Bank Mykhailivskyi, Igor Doroshenko, for two months with the right to make bail in the amount of UAH 137.8 million. In May bankruptcy administration was introduced in the Bank Mykhailivskyi. It was later discovered that the day before this happened the bank sold its loans to other financial companies. On 23 May the Board of the National Bank decided to classify PJSC Bank Mykhailivskyi as insolvent.

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