Fozzy Group wants to avoid paying debts

Fozzy Group wants to avoid paying debts

23.11.2016 News

According to Interfax-Ukraine, Fozzy Commercial and Industrial Group (CIG) in connection with Trash new retail chain storey creation, has registered LLC Silpo-Food at the beginning of August.

According to information in the Single state register of legal entities and individual entrepreneurs, PJSC became the founder of PJSC Closed Undiversified Venture Corporate Investment Fund Retail Capital. The registered equity of LLC Silpo-Food constitutes 10 thousand UAH. Vladimir Kostelman acts as the final beneficiary.The company press service reported to the agency:”Registration of the new legal entity is connected only with the opening of Trash new retail chain stores as a part of Fozzy Group”.

In turn, suspect of VTB bank  by the creation of the new legal person of Fozzy Group tries to avoid the return of the credits. The Press service comments about legal entity creation: “Opening or a re-registration of Fozzi-Food accounts on Silpo-Food can witness about possible strategy implementation of Fozzi group on leaving from a return of borrowing facilities and to the creation of obstacles for the implementation of executive service arrests on a money in the advantage of VTB Bank. Perhaps, these actions are connected with the fact that the bank is one of the first managed to receive the decision on a debt collection with Fozzi-Food in the Supreme economic court. At the same time Silpo-Food isn’t a borrower of  VTB Bank”.

Gleb Vyshlinsky, the director of the Center of economic strategy posted on the page on Facebook:”If General fiscal service of Ukraine seized in Fozzy-Food, then one evening of an inventory  and, voila, Silpo-Fud was  created.”

As it having mentioned on August 2,2016, the Appellate court of Kiev has repealed the resolution of Pechersk district court in Kiev on imposing of arrests into accounts of LLC Fozzi-Food, which is a part Fozzy Group, accepted for ensuring accomplishment of its credit liabilities to PJSC VTB Bank.Pechersk regional court of Kiev on July 12, 2016, has made the decision to seize accounts of LLC Fozzi-Food for ensuring accomplishment of its liability to PJSC VTB Bank according to the credit agreement of 2007 within which the total amount of debt of the retailer to bank constitutes 302,48 million UAH.

According to VTB Bank, by the end of July 2016 the financial organisation has submitted 37 actions for a declaration concerning Fozzy Group. The total amount of requirements  constitutes 10,5 billion UAH. According to credit agreements, nine of them are on the amount of 2,2 billion UAH and 28 are under contracts of the financial guarantee for the amount of 8,2 billion UAH.

In January-June of 2016 the company has increased a net income by 7,7% in comparison with the same period in the previous year – to 18,144  billion UAH. At the same time its net loss has grown by 2,8% and constituted 618,87 million UAH.

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