The Kyiv Court of Appeal allowed UZ not to repay the debt to a foreign investor

Kyiv Court of Appeal refused to satisfy the appeal of VR Global Partners, LP and upheld the decision of the investigating judge of Kyiv Pechersk District Court, which upheld Ukrzaliznytsia’s appeal, declaring the agreement between Prominvestbank and VR Global Partners investment fund invalid.

The decision of the investigating judge of the Pechersk District Court of Kyiv granted the request of the Prosecutor General’s Office and arrested “by prohibiting the transfer and / or write-off and / or recovery of funds or any other financial transactions” under loan agreements signed in 2011-2012 with Prominvestbank ”, in favor of VR Global Partners, LP.

This was reported by the railway magazine Railway Supply.

It is noted that the courts have issued five decisions that have entered into force, to recover from “Ukrzaliznytsia” about $ 123 million under credit line agreements in 2011-2012.

According to the investigation, the admission of forced write-off of funds under these court decisions, in case of recognition of the contract of assignment invalid, may lead to double debiting of funds from JSC “Ukrzaliznytsia” in favor of VR Global and PJSC “Prominvestbank” which will cause damage on a particularly large scale. ”

The decision of the Kyiv Court of Appeal of October 12 states: possibly concluded in violation of the requirements of current legislation, and therefore, the seizure of the above property is necessary in order to ensure the preservation of material evidence.

CTS wrote that on claims of the Donbasenergo company 78 million UAH debts of the Donetsk railway were written off from accounts of JSC Ukrzaliznytsia on September 9. Another $13.5 million was debited (more than UAH 360 million) as required by Investohills.

Earlier, VR Capital commented on UZ’s statement regarding its debt to a foreign investor.

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