The Economic Court of Kyiv and the Northern Economic Court of Appeal recognized the repayment of the credit debt on the loan between JSC “UPB” and SE “Drinks Ukraine” as illegal

29.06.2021 The Northern Economic Court of Appeal did not satisfy the complaint of SE “Drinks Ukraine” and left unchanged the decision of the Economic Court of Kyiv of 16.03.2021 in case No. 910/7305/20.

Earlier, in March 2020, FC “Investohills Vesta” acquired the debt of SE “Drinks Ukraine” during the bidding for the pool of claims for credit obligations organized by the DGF. However, the company’s representatives called the company’s debt “repaid”, and the claims of the new creditor of FC “Investohills Vesta” they called illegal.

On 16.03.2021, the Economic Court of Kyiv rejected the claim for the invalidity of the assignment of the right of claim under the loan agreement between SE “Drinks Ukraine” and the Ukrainian Professional Bank (UPB).

As of today, the amount of debt owed by the company “Drinks Ukraine” to FC “Investohills Vesta” is more than 30 million UAH.

During the court hearing, the lawyers of FC “Investohills Vesta” provided the court with a number of evidence indicating the absence of actual payment to the creditor of UPB, and suggested that the former owner of the bank A. Yurkevich could have colluded with a number of interested parties, as a result of which the collateral was unreasonably withdrawn from under the burden under the guise of repayment of credit debt.

After reviewing the defendant’s objections, the court established the fact of the nullity of the transaction to repay the debt under the loan agreement between UPB and SE “Drinks Ukraine” and rejected the claim of the subsidiary, retaining the right to demand repayment of the debt on the loan for the company “Investohills Vesta”.

However, the SE “Drinks Ukraine” continues to insist on the absence of the company’s debt to JSC “Ukrainian Professional Bank”, which, with a high degree of probability, will result in another consideration of the case, but already in the cassation instance.

FC “Investohills Vesta” is preparing to defend its interests again in case No. 910/7305/20.