The court recognized the legality of VR Global Partners’ purchase of Ukrzaliznytsia’s debts

The Economic Court of the city of Kyiv in the case of 910/5617/21 on July 27, 2021 dismissed Ukrzaliznytsia in a claim for invalidity of the agreement, according to which VR Global Partners, LP (VRGP) acquired the rights to claim credit debt against the company.

Thus, the court confirmed the legality of the sale and purchase agreement of February 22, 2019, by which VRGP completed the purchase of a loan portfolio with the principal amount of Ukrzaliznytsia’s debt of $ 153 million, reports Railway Supply, citing Interfax-Ukraine.

Despite the fact that six decisions of the Supreme Court of Ukraine were made in favor of VRGP, Ukrzaliznytsia did not fulfill its loan obligations.

Ukrzaliznytsia will pay “Sberbank” 17.25 million dollars in debt of the Donetsk railway

In its latest attempt to avoid payments, UZ argued that VRGP was not eligible to benefit from the contract under which it acquired the loans, on the grounds that the agreement was an invalid factoring agreement. This argument was rejected by the Kyiv Economic Court.

Related:

Ukrzaliznytsia talked again about cooperation with Deutsche Bahn