The Court of Appeal rejected PrivatBank`s claims against Dniproavia for UAH 1.5 billion

Все про економіку та фінанси

On 27 May, the Central Commercial Court of Appeal refused to satisfy PrivatBank`s appeal and left unchanged the decision of the Commercial Court of Dnipropetrovsk Region of 17.12.2018, which denied the recognition of the nationalized bank`s creditor claims against Dniproavia in the amount of UAH 1.5 billion (within the framework of the case No. 904/8902/17 on the bankruptcy of this airline).

The courts of first and appeal instance made these decisions on the basis of the decisions of the Commercial Court of the Dnipropetrovsk region of 26.11.2018, which at the request of LLC Galtera (the owner of 94.5% of Dniproavia shares, associated with the "privat autorities") declared invalid the terms of loan agreements concluded between PrivatBank and Dniproavia in 2011-2014 in terms of loan interest accrual.

As Finbalance wrote, on 22.03.2019 the Central Commercial Court of Appeal refused to satisfy the appeals of PrivatBank against the decisions of the Commercial Court of Dnipropetrovsk region dated 26.11.2018.

On December 17, 2018, the court approved the register of Dniproavia`s creditors` claims, including requirements of Goiania Comercio E Servicos Internacionais LDA - UAH 920.8 million (4th line) and UAH 489.5 million (6th line), LLC Alians Partner Group - UAH 823.8 million (4th line), LLC International Airport Dnipropetrovsk - UAH 598,8 million UAH (4th line), LLC Galtera - UAH 545.9 million (4th line), Troyon Assets Limited - UAH 340,6 million (4th line), Feyen Consulting Limited - UAH 216.9 million (4th line) Brassbox Limited - UAH 179.6 million (4th line), Ukrtatnafta - UAH 132.8 million (4th line).

According to court materials from 2011, Dniproavia rented aircrafts in Brassbox Limited, Goiania Comercio E Servicos Internatiocionais, Troyon Assets Limited, Feyen Counsulting Limited.

In the autumn of 2017, the media wrote that Dniproavia no longer had any aircraft, and at least some of them were transferred to the Wind Rose airline.

As Finbalance noted, on 15.01.2019 the Supreme Court partially satisfied the cassation appeal of the State Property Fund of Ukraine (SPFU), overturned the decisions of the lower courts in the case No. 904/299/16 (in the case of the SPFU`s claim against LLC Galtera to terminate the contract on privatization of Dniproavia) and transferred it to the court of first instance for a new consideration.