FC “Investohills Vesta” in the Supreme Court confirmed its creditor rights in relation to the Cyprus company “Yernamio Consulting LTD”

Lawyers of the financial company “Investohills Vesta” secured a winning position on creditor claims against a Cyprus company owned by the People’s Deputy of Ukraine Vadim Novinsky and the owner of the liquidated Bank Forum – “Yernamio Consulting LTD”.

Recall that at the beginning of 2019, according to the results of electronic trading, “Investohills Vesta” won the auction for the pool of claims for loans of Bank Forum. According to the terms of the assignment agreement No. 0002/19/7 dated 27.03.2019, the rights of claim for debt obligations were transferred from PJSC “Bank Forum” to LLC FC “Investohills Vesta” in respect of the debtor – LLC “Trading House “Brand Show”, the financial guarantor for which was the Cyprus company “Yernamio Consulting LTD”.

The debt collection trial has been frozen since 2014. In 2020, the lawyers of “Investohills Vesta”, as the legal successor of Forum Bank, succeeded in resuming the process. The debtor filed appeals and cassation complaints with objections regarding the transfer of rights and obligations to the guarantor to “Investohills Vesta”. As a result, “Investohills Vesta” achieved recognition of its claims in a Cyprus company and received a decision of the court of first instance to recover debts in the amount of more than UAH 190 million.

“Yernamio Consulting LTD” was the main shareholder of PJSC “Bank Forum”, which owns 98.68 % of the authorized capital of PJSC “Bank Forum”. Today, the company is included in the declaration of the People’s Deputy Vadim Novinsky, who is the ultimate beneficiary of the company.