FC “Investohills Vesta” has proved the legality of the bidding for the sale of assets of the Ukrainian Professional Bank.

Representatives of LLC “Ganso COMPANY” appealed to the Economic Court of the city of Kyiv with a claim for invalidation of the auction.

The plaintiff demanded to invalidate the auction of 30.03.2020 for lot GL16N71712, according to the results of which, the winner – FC “Investohills Vesta” acquired the right to claim loans from JSC “Ukrainian Professional Bank” (UPB).

On the basis of the cession agreement of FC “Investohills Vesta”, foreclosure was initiated in respect of the mortgage real estate object at Stroyndustrii str. 6 in Kyiv, which was transferred to secure the obligations under the loan agreements between JSC “UPB” and LLC PII “IT Invest”. The total amount of outstanding loans amounted to more than UAH 250 million.

At the time of foreclosure on the pledge, the owner of the property complex of the Construction Industry 6, was LLC “Ganso COMPANY” – an enterprise associated by a number of persons with the former owner of JSC “UPB” Anatoly Yurkevich.

By the decision of 17.02.2021 in the case No. 910/17954/20, the Economic Court of the city of Kyiv satisfied the claims of “Ganso COMPANY” in full.

During the consideration of the case, the court concluded that, at the time of the auction, JSC “UPB” did not have the right to claim under the Loan and mortgage Agreements concluded by the Bank with LLC PII “IT Invest” and JSC “Experimental Mechanical Plant”.

In order to challenge the court’s decision, as a result of which the rights and interests of the company were infringed, the lawyers of FC “Investohills Vesta” filed an appeal to the Northern Economic Court of Appeal.

Having studied the materials of case No. 910/14751/17, the Court of Appeal came to the following conclusions: according to the results of the auction of 30.03.20, FC “Investohills Vesta” lawfully acquired the rights of claim under the Loan Agreements of JSC “UPB” with LLC “IT Invest” and JSC “Experimental Mechanical Plant”, as well as under the mortgage agreement for the real estate object (Stroyndustrii str., 6, Kyiv). In addition: the court of appeal established the fact of nullity of the transaction between JSC “UPB” and PJSC “Apex-Bank” as a result of which, a month before the recognition of the bank’s insolvency, the rights of claim under the above-mentioned credit and mortgage agreements were realized.

09.06.2021 The Northern Court of Appeal overturned the decision of the court of first instance in full and decided: to refuse LLC “Ganso COMPANY” to satisfy the claim for invalidation of the auction.