The court arrested the assets of the Creative company in the amount of 380,712,000 UAH

The court arrested the assets of the Creative company in the amount of 380,712,000 UAH

05.02.2016 News

The court arrested the assets of the Creative company in the amount of 380,712,000 UAHThe commercial  court of Kiev had arrested UAH 380,712 million of Creative PJSC, which is one of the largest domestic producers of oil and fat products and part of  the Creative industrial group as security in the case  of VTB Bank.

According to the report, in January 2016, VTB Bank  appealed to the court to oblige the company Investment Capital Ukraine (ICU) to comply with the order to perform accounting operations of receipt / delivery of securities from 26 October 2015 to recover from Creative  PJSC in the plaintiff in the amount of debt 380 700 000 UAH.

The claim based on the fact that the Creative failed to make early redemption of issued bonds B series in violation of the issued prospectus, resulting in the indebtedness of 380.7 million UAH.

The Bank asked the court to recover the said amount from the agricultural enterprises, the hearing on the matter will take place in February, 8. As security for the claim, the financial institution asked to arrest the said amount, due to the difficult financial situation in the “Creative”. The court granted the bank’s request.

The Agroindustrial Creative Group is an integrated company specializing in the processing of agricultural products, production of feed products for livestock and poultry, food and biofuel production. The company has 9 factories, crop farms and livestock complex.

Creative Group is one of the TOP-3 Ukrainian processors of sunflower seeds and is the second largest exporter of sunflower oil in the Ukrainian market. The company is one of the leaders in the production of fats and margarines (market share 25%) and №2 of soybean processing (with a market share of about 24% of installed capacity).

Source: latifundist.com

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