Ukraine court arrests property of Bakhmatyuk on central bank claim

The National Bank of Ukraine (NBU) reported on May 18 that a Kyiv court ruled on May 12 to arrest all the property that belongs to Oleg Bakhmatyuk, the main owner of Ukrlandfarming (UKRLAN) and Avangardco (AVINPU, AVGR LI). The court’s ruling was based on an appeal submitted by the NBU, which is trying to recover UAH 4.0 bln in loans provided to Finansova Initsiatyva Bank, which was controlled by Bakhmatyuk and failed in 2015. The loans were backed by some property and property rights, as well as a financial guarantee from Bakhmatyuk himself, according to the NBU.

The total NBU claim that was considered by the court on May 12 was UAH 0.136 bln, according to Bakhmatyuk’s press service, as reported by Interfax-Ukraine. Bakhmatyuk is going to appeal the decision, the report said.

In a comment to Concorde Capital, Ukrlandfarming assured us that this decision will not influence the holding’s operations.