Cargill lost in court in the case of the Delta

Cargill lost in court in the case of the Delta

29.01.2016 News

Cargill lost in court in the case of the Delta

The Cargill chances to prove the legitimacy of the withdrawal of assets from the Delta Bank in the amount of 2.5 billion USD are reducing.

Yesterday, the Supreme Commercial Court partially satisfied the cassation of the liquidator Delta Bank, canceled the previous court decisions on the loan company “Yablunevyi dar” and returned the case in the first instance, said the head of the Board of “Delta Bank depositors Union” Roman Badalis.

The court will have to determine on what basis the US company Cargill obtained rights to the loan of the “Yablunevyi dar” company. “Now will be dealt, whether all letters of credit, under which the loans were transferred from the Delta Bank to the Cargill company, what is the duration of their maturity and other conditions. Until now, the courts saw no reason to learn it “- said Roman Badalis.

It is about 17 letters of credit on the basis of which the Delta Bank has transferred to its shareholder, the Cargill Financial Services International Inc. company, rights of claim on loans to companies “Yablunevyi dar”, “Ilyichevsk grain port”, “Stroybud Illichivsk” and “Tank Trans”. The total amount of the loan portfolio is 2.5 billion UAH. In addition to Cargill the State Mortgage Institution (SMI) claims to these loans.

Delta Bank on September 4, 2014 signed a contract with SMI of the assignment loan of “Yablunevyi dar” for $ 43.4 million. And according to the agreement, the credit went to the SMI on the day of the introduction of temporary administration of Delta Bank on March 2, 2015. However, still the SMI can not defend the rights of the creditor, on December 10 Kyiv Commercial Court dismissed the claim.

Source: news.finance.ua

Other articles

  • globallogic healthtech 1
    News

    GlobalLogic engineers help create nearly 10% of the global medical device market

    Last year, the global medical device market reached $532.62 billion, according to Mordor Intelligence. Ukrainian engineers are involved in the projects of key players, which occupy almost 10% of the market. This share can be estimated at 50 billion US dollars*. Domestic specialists create more than a hundred software solutions of various levels. These include […]

  • 2779913
    News

    Twitter працює над відновленням відеосервісу Vine

    Новий власник Twitter Ілон Маск доручив інженерам попрацювати над перезавантаженням Vine, яке може бути готове до кінця нинішнього року. Про це повідомляє Axios. Зазначається, що інженерам компанії необхідно вивчити стару кодову базу відеосервісу, яка не змінювалася та не оновлювалася з моменту закриття, а саме з 2016 року, коли з’ясувалося, що майданчик не витримує конкуренції. Втім, одне з […]

  • picturepicture 156446930057951110266878 96171
    News

    CREDIT AGRICOLE TOPS THE SOCIAL RESPONSIBILITY RATING AMONG BANKS ACCORDING TO STANDARD-RATING

    Credit Agricole has been ranked first in the social responsibility rating of the banking sector, created by Standard-Rating based on the 2022 half-year results. The rating agency commended the bank’s contribution to the economy of Ukraine. The bank has paid UAH 100 million in taxes in advance, while issuing UAH 1.2 billion in loans under […]

  • impact automotive
    News

    How Ukrainian developers make impact on road safety

    From October 1, drivers must turn on the dipped headlights of the car outside the city. This helps to additionally mark the vehicle in conditions of low visibility within the autumn-winter period. GlobalLogic reminds about the importance of compliance with traffic rules and tells about the developments of Ukrainian engineers that affect road safety. In […]

  • 750x450 press release image ua
    News

    Intellias completes acquisition of Digitally Inspired, strengthening expertise in the Retail and eСommerce industry

    Intellias, a global software engineering and digital consulting company, has announced the completion of its acquisition of Digitally Inspired, a fast growing, UK based peer, focusing on the Retail and eCommerce industry. “I am delighted to welcome the Digitally Inspired team to Intellias. It is symbolic that Intellias’ twentieth anniversary coincided with signing an agreement […]

  • shutterstock 1920327596
    News

    3×4, a recently-founded Ukrainian Web3 fundraising platform, launches its first campaign

    3×4, a Web3 fundraising platform for non-profits, has been launched in Ukraine to bring innovative crypto & NFT fundraising to the rising number of social impact causes. 3×4 helps non-profit organizations to fundraise utilizing NFTs in collaborations with artists and brands while providing donors utility, revenue and transparency. The idea of 3×4 was born in […]

  • 632595f853279441907151 730x410
    News

    The September, 29 will take place the international investment forum REBUILDING UKRAINE WITH THE PRIVATE SECTOR: International Investment Fair

    In order to present existing opportunities and draw attention of the international business community, UkraineInvest organizes an international forum with the participation of leading business representatives and expert environment of Ukraine and the world. The need to rebuild Ukraine creates a variety of attractive investment projects aimed at contributing to shaping a new economy of […]

  • Україна планує запровадити нове мито на імпорт
    News

    Україна планує запровадити нове мито на імпорт

    Проект, що його розробляє уряд, визначає введення 10% збору на купівлю іноземної валюти імпортерами. Деталі ініціативи Кабміну повідомив нардеп Ярослав Железняк, який є заступником голови податкового комітету Верховної Ради. “Тут варто зазначити, що обрана концепція не передбачає додаткових імпортних мит (що є складним при адмініструванні), а визначає запровадження 10% збору на валютообмінні операції із купівлі всіх […]

Read also

Cargill lost in court in the case of the Delta
News

The Dalian Wanda Group will be the majority owner of the Legendary Entertainment production company

Chinese companies continue to actively increase their presence in the business world. Recently it became known that the company Dalian Wanda Group, which  specializes in the construction of residential and commercial property, acquires the major USA cinema-company  Legendary Entertainment for $ 4 billion. After the implementation of the agreement, most of the shares will pass […]

Next
Cargill lost in court in the case of the Delta
News

Boeing will begin production of biofuel aircraft

Boeing Aerospace Corporation will start producing aircraft that will run entirely on biofuels by 2030. “To refuel the aircraft with environmentally friendly” fuel “, Boeing will need to modify the engines and other systems of aircraft. In addition, you will need a certificate confirming the safe operation of the aircraft,” – said in a press […]

Next
Cargill lost in court in the case of the Delta
News

Two other Chinese developers have problems paying on bonds

In China, two more developers are unable to repay their debts: Fantasia Holdings has been unable to repay bonds worth $ 205.7 million, and Sinic Holdings is uncertain about the repayment of $ 246 million in bonds, the BBC reports. The day before, trading in Evergrande shares was suspended on the eve of “an announcement […]

Next
Cargill lost in court in the case of the Delta
News

Johnson & Johnson suspends the study of the COVID-19 vaccine due to unexplained disease in the participant

Shares of the Johnson & Johnson may slow because the last stimulus to it was the company’s transition to the final clinical trial of the vaccine against COVID-19 on September 23, after which the shares rose by more than 5%. However, as of Tuesday, before the opening of trading, the price of J&J shares did […]

Next
Cargill lost in court in the case of the Delta
News

Eurozone finance ministers have approved the ESM reform

German Finance Minister Olaf Scholz said that eurozone finance ministers had agreed on a package of measures to reform the European Stabilization Fund (ESM). “The ESM reform strengthens the euro and the entire European banking sector,” said Scholz, whose country currently holds the EU presidency. According to the agreements, a new “safety cushion” for European […]

Next
Cargill lost in court in the case of the Delta
News

An analogue of a Turkish drone is expected in Ukroboronprom

The Ukrainian Sokil-300 drone is an analogue of the Turkish Bayraktar and it may join the army next year. The head of Ukroboronprom Igor Fomenko announced it in an interview with RBC-Ukraine. “This is an analogue of the same Turkish Bayraktar. With funding it may already be adopted in a year,” he said. Fomenko says […]

Next
Cargill lost in court in the case of the Delta
News

Uber is willing to sell the part of its stake in Didi for 6,3 billion

Taxi service Uber Technologies Inc. wants to sell the part of its stake in the Chinese taxi ordering service Didi Chuxing worth $ 6.3 billion, writes Bloomberg agency. According to sources, Uber is negotiating the sale of shares in Didi with Japanese company SoftBank Group, which is the major shareholder in both companies. “Although various […]

Next
Cargill lost in court in the case of the Delta
News

Tiffany received the counterclaim from LVMH

Holding LVMH Moet Hennessy-Louis Vuitton (LVMH) reported that on Monday, September 28, filed a counterclaim against Tiffany in a Delaware court over a failed merger agreement between the two companies. The French holding and the American jewelry house agreed to merge in November 2019. The parties signed the agreement under which LVMH had to pay […]

Next
Cargill lost in court in the case of the Delta
News

Wells Fargo Reported Worse-than-expected Losses and Reduced Dividend

Today Wells Fargo, the fourth-largest U.S. bank, reported record losses of $2.4 billion in the second quarter, which was even worse than the bank management and Wall Street analysts expected. For the three months by June 30, Wells Fargo’s loss was $0.66. This is $0.46 worse than analysts’ forecast of $0.20 loss per share. One […]

Next
Cargill lost in court in the case of the Delta
News

The container operator of the Ukrzaliznytsia will build a grain terminal

The container operator of the Ukrzaliznytsia the Liski Company, plans to create Portside grain terminal with a capacity of about 15 thousands TEU in a year. It is reported by the UkrAgroConsult. According to the report, the new facility will be located in the territory of the structure Odessa-Liski, which serves the container flows of […]

Next
Cargill lost in court in the case of the Delta
News

Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter

Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]

Next
Cargill lost in court in the case of the Delta
News

Ukrainian startups have attracted a record amount of investment

The amount of investment in Ukrainian technology companies amounted to $ 571 million in 2020 Most of the investment in Ukrainian startups came from global companies that see Ukraine as a country for R&D offices. The report notes that out of the total amount of investments in the seed round, Ukrainian startups received $ 42 […]

Next
Cargill lost in court in the case of the Delta
News

Visa and Vsi. Svoi have launched “Her business”, a contest to support Ukrainian women entrepreneurs

The professional jury will select three winners who will receive UAH 100,000 for the development of their own businesses. The first-place winner will present products in her own “corner” in one of the two Vsi. Svoi stores on Khreshchatyk. All three winners will present their products at the online platform vsisvoi.ua and will receive mentor sessions […]

Next
79d3cdf shkola 755 740x416 1
Analytics News

Top 5 of the best business schools

A Business, as well as any other sphere of professional activity, demands from the person a certain complex of knowledge, abilities and tendencies. In any case, if you actually plan to achieve stable success as the entrepreneur, the corresponding education will become some kind of catalyst in the course of achievement of this purpose. The  […]

Next
Cargill lost in court in the case of the Delta
News

The Nikkei index has become the highest since 1991

Trading on Asia’s largest stock exchange on Asia on Tuesday opened another rise amid the continuing strengthening of indices in New York. This is evidenced by the data of stock trading on the website of the Tokyo Stock Exchange. The Nikkei index, which reflects fluctuations in the stock prices of 225 leading companies in the […]

Next
Cargill lost in court in the case of the Delta
News

The National Commission of state regulation of the financial services market

The National Commission, carrying out state regulation of the financial services market by its order №1467 agreed to increase participation by Allianz Holding eins GMBH (Austria) in ODO «Allianz Ukraine” (Kiev) to 99.999% by direct acquisition of 99.978% from its share capital.  As reported, at the beginning of this year, the National Commission, carrying out […]

Next