On October 9, the Commercial Court of Volyn Region declared Kovelmoloko PJSC as a bankrupt and opened a liquidation procedure (case No. 903/426/16).
On September 18, the court approved the register of debtor`s creditors` claims, including Ukreximbank`s claims for UAH 743.7 million (as secured by the debtor`s property), Midas Investments LLC - UAH 111.5 million (the line is not specified), Halychyna PrJSC - UAH 85.8 million (the fourth line), Molochna kompaniia Halychyna LLC - UAH 20.7 million (the fourth line).
According to the National Securities and Stock Market Commission data, as of the end of June 2019, the owner of 98.98% of Kovelmoloko PJSC shares (as well as 100% of Halychyna PrJSC shares) was Brosmont Holdings Limited.
About the bankruptcy of Halychyna PrJSC and Ukreximbank`s demands to it for more than UAH 1 billion - here.
As reported earlier, in 2010, Zakhidna Molochna Hrupa (controlled by Continium group of Stepan Ivakhiv and the already deceased Ihor Yeremeiev) merged with Halychyna JSC (beneficiaries of which were Andrii Korol, Serhii Hybai, Yurii Lozhkin), as publicly confirmed by Continium group. The combined milk structure has retained the name Halychyna. In fact, S. Ivakhiv was a member of the Supervisory Board of the company. In 2014, Volodymyr Petrin, General Director of the Halychyna dairy plant, was replaced by Dmytro Leshchenko, who had previously worked as an advisor to the General Director of the Continuum group.
The bankruptcy cases of Kovelmoloko PJSC and Halychyna PrJSC are not the only ones in the history of the dairy business of Continium Group (which is known primarily for its WOG gas stations network and Bank investytsii ta zaoshchadzhen).
In particular, in November 2015, the Commercial Court of the Volyn Region declared Ukrainska syrna kompaniia LLC as a bankrupt, to which,Ukreximbank imposed creditor`s demands in the amount of UAH 811 million, which, however, was finally revoked. At that time, the head of Dubnomoloko (also controlled by the Continium group) publicly stated that the bankruptcy of Ukrainska syrna kompaniia was a “technical moment” and the company`s debt to Ukreximbank would be transferred to Dubnomoloko.
In March, Dubnomoloko PrJSC (produces hard and processed cheese under the brand name Komo; it is associated with Continium group, which controls the network of WOG gas stations and Bank investytsii ta zaoshchadzhen) reported about possible amendments to loan agreements with Ukreximbank.
As noted, the limit of the value of the relevant transactions that can be made within a year after the decision - 200% of the value of the company`s assets according to the latest annual financial statements.
According to the reports of Dubnomoloko PrJSC, as of the end of 2017 its non-current assets amounted to UAH 322.3 million, and its current assets - UAH 414 million, that is, in total - UAH 36.3 million.
According to the State Register, the final beneficiaries of Dubnomoloko PrJSC and Komo-Export LLC are Stepan Ivakhiv and Roman Yeremeiev and Sofia Yeremeieva (children of the deceased People`s Deputy Ihor Yeremeiev), who own the Continuum group (including the WOG gas stations and Bank investytsii ta zaoshchadzhen).
In September 2018, the WOG gas station network announced that Ukreximbank restructured its debt for a period of 15 years. The amount of debts was not specified.