On September 25, the Central Commercial Court of Appeal refused to satisfy the appeal of Financial Company Vesta LLC (as the legal successor of the rights of claim of the Forum bank) and left unchanged the decision of the Commercial Court of Dnipropetrovsk region of 17.07.2019, which has granted the petition of the property manager within the framework of the case № 904/1012/14 on the declaration of bankruptcy of Vesta-Dnipro PJSC and introduced the procedure of the company`s rehabilitation for the period of 6 months (until 17.01.2020).
Westa-Dnipro bankruptcy proceeding was begun back in 2014.
On 13.11.2014 Commercial Court of Dnipropetrovsk region approved a register of creditors’ claims, which includes such claims:
- VTB Bank – UAH 1,15 billion (of which UAH 1 billion – fourth tier);
- Ukreximbank – UAH 978,8 million (of which UAH 957 million - fourth tier);
- Credit Dnipro – UAH 276,6 million (of which UAH 237,8 million - fourth tier);
- BTA Bank – UAH 97,2 million (of which UAH 89,4 million - fourth tier);
- VAB Bank – UAH 95,1 million (of which UAH 93,3 million - fourth tier);
- “Forum” bank – UAH 63,2 million (fourth tier);
- Privatbank – UAH 44,1 million (fourth tier).
In addition, VTB bank’s claims in the amount of UAH 1,68 billion were separately recorded into the register of secured creditors’ claims.
According to the court materials, the property manager informed the creditors` meeting and the creditors` committee that the court of first instance received applications from potential investors of Abris Dnepr LLC, DMZ JSC, NVP Dnipromash LLC, who announced that they would take part in the rehabilitation of Vesta-Dnipro JSC.
At the same time, according to Vesta-Dnipro`s property inventory, 99% of the company`s property is pledged to VTB Bank, Ukreximbank and VAB Bank.
The founder of Westa accumulator group is Viktor Dzenzerskyi, father of former people’s deputy Denys Dzenzerskyi (he was the deputy head of committee of the Supreme Soviet regarding financial policy and banking operations).
In 2011 Westa corporation conducted IPO in Warsaw exchange house. It was valued nearly at USD 190 million (portfolio investors purchased 25% of company shares for USD 46 million). Since 2014, the struggle between Westa group and creditors has endured with varying success.
On 09.11.2018 Dnipro Court of Appeal satisfied an appeal of Denys Dzenzerskyi and canceled a decision of Babushkinskyi district court of Dnipropetrovsk dated 03.08.2018 (in case No.200/17906/14-ц), which satisfied petition of the state enforcement officer and temporary restricted D. Dzenzerskyi on travel abroad before complete performance by him of decision of this court dated 25.06.2015 regarding satisfaction of debt owed to VTB bank.
In accordance with the court materials, D. Dzenzerskyi was a guarantor for debts of companies of Westa group. In truth, in summer of 2017, Dzenzerskyi publicly assured that he is not a guarantor for loans, granted by VTB bank and filed an application to law enforcement authorities regarding fabrication of relevant guaranty.
According to the court materials, resolved enforcement proceedings No. 47912939 were completed on the execution of the public enforcement service regarding enforcement of 13 implementation documents of collection of funds from D. Dzenzerskyi in favor of VTB Bank (a total of UAH 4,16 billion), and also “Credit Dnipro” bank (USD17 million), BTA Bank (UAH 196,8 million).
NABU and Specialized Anti-corruption Procurator’s office accused D. Dzenzerskyi of presentation of inaccurate data in the declaration for 2015, in particular, undeclared data on existence of financial debts, owed to VTB Bank, “Credit Dnipro”, BTA Bank and presence of corporate rights in PJSC MNK Westa.
In addition, the General Prosecutor’s Office conducted investigation regarding non-compliance by D. Dzenzerskyi with court decisions of repayment of debt, owed to VTB Bank, and police – due to commission by the officials of the companies of «Recuperation of lead» and Westa-Dnipro of serious fraud in relation to VTB Bank.