Investohills Vesta Submitted Its Creditor Claims against Krai Property to the Court

Today, TOV FC Investohills Vesta submitted its creditor claims against Krai Property to the court in the debtor’s bankruptcy case. However, the debtor complained against the court’s decision to open bankruptcy proceedings in respect of the debtor.

According to earlier reports, proceedings under Case No. 910/21899/21 concerning the bankruptcy of DP Krai Property (identification code 24365189) were opened with the Ruling of the Kyiv City Commercial Court dated May 31, 2022.

The proceedings were initiated by the Main Directorate of the State Tax Service in Kyiv City because of Krai Property’s inability to pay a debt of UAH 3.9 million.

According to YouControl web portal, DP Krai Property is a part of the Milkyland Ukraine group of companies owned by Anatolii Yurkevych, an infamous oligarch. Until September 2020, Anatolii Yurkevych and his mother, Olha Yurkevych, were registered as the company’s direct beneficiaries.

Since late September 2020, Oleksii Karhopolov, the former CEO of PAT Ukrainian Professional Bank, also linked to Milkyland Ukraine, has been the sole ultimate beneficiary of DP Krai Property, according to the Unified State Register.

In addition to the Main Directorate of the State Tax Service in Kyiv City, the monetary claims against Krai Property were also declared by AT International Reserve Bank (renamed from PAO Sberbank) to the tune of UAH 3.6 billion and TOV FC Investohills Vesta as the successor to PAT Ukrainian Professional Bank to the tune of UAH 128.8 million.

Importantly, Yurkevych and companies affiliated with him have been trying since 2015 to avoid the performance of Krai Property’s credit liability to the bank, as established by court decisions in cases Nos. 910/6980/17, 910/6980/17, and 910/10787/16.

In spite of the prohibition imposed by the National Bank of Ukraine, a contract of assignment of claims against DP Krai Property and other affiliated companies was entered into between PAT Ukrainian Professional Bank and TOV FC Aurum Finance by the decision of Oleksii Karhopolov as Acting CEO of PAT Ukrainian Professional Bank on May 28, 2015, the date of its categorization as insolvent and appointment of the temporary administration.

Within two months, Aurum Finance assigned the claim to TOV KUA Praktyka, another company affiliated with Anatolii Yurkevych.

The Claim Assignment Contract with Aurum Finance, dated May 28, 2015, has been found legally null and void according to the law later on, while the Deposit Guarantee Fund has been managing the insolvent bank.

The circumstances for the invalidation of the claim assignment contract and the existing non-repaid debt provided the ground for a court decision for TOV FC Investohills Vesta to recover debt totaling USD 2,365,038.66 and EUR 2,332,461.07 as an appropriate successor to the bank from DP Krai Property and several other related companies.

As announced by the DGF, an auction to sell assets of the International Reserve Bank/Sberbank will take place in ProZorro.Sales n October 12; the lot includes

– a non-residential building of a public center with an area of 28,539.5 square meters located at 13B Prospekt Akademyka Hlushkova in Kyiv (Magellan mall). The mall is at a short walk’s distance from Teremky metro station near a junction of two major roads — Odesa highway and Kyiv City ring road;

– the claim under two loan agreements with a legal entity plus accounts receivable. The two loan agreements have been secured with a lien on dairy processing equipment, the claim for proceeds and goods, and financial surety;

– a 13,041.3-square meters large property in the village of Krupets (Slavuta Raion of Khmelnytskyi Oblast) at 45 Bohdana Khmelnytskoho Street with a burglar alarm system.

The starting price for lot No. G18N021304 amounts to UAH 3.16 billion.