14:02 27.05.2015

Kolomoisky wants to recover UAH 3 bln from idle AeroSvit airlines

3 min read
Kolomoisky wants to recover UAH 3 bln from idle AeroSvit airlines

Businessman and PrivatBank owner Ihor Kolomoisky is seeking to recover in court about UAH 3 billion in debts from affiliated Kyiv-based AeroSvit airlines, which has ceased operation.

Kyiv region's economic court is considering a case opened at the request of Dnipropetrovsk-based Tenak LLC on the bankruptcy of AeroSvit airlines, according to a court announcement in the state register of court rulings.

"The Economic Court of Kyiv region on March 4, 2015, brought a bankruptcy action against AeroSvit, a moratorium on meeting creditors' claims was introduced along with the procedure for the management of the debtor's property, bankruptcy commissioner Leonid Talan was appointed as administrator of the debtor's property," reads the announcement.

However, on March 30, the court received a claim from Kolomoisky asking it to recognize his creditor claims against the debtor in the amount of UAH 2.992 billion. According to a ruling dated April 6, the creditor's claim was accepted for consideration, but on April 22 its consideration was postponed until the middle of May 2015. Having examined the materials of the case and heard the explanations of the participants in the bankruptcy case, the court on May 15 concluded that Kolomoisky's claim was justified by the fact that, pursuant to the terms of contracts of guarantee concluded between the businessman and PrivatBank, obligations to pay AeroSvit's debts on credit-based relations between the airlines and the bank had been met at the request of the bank, as a result of which, claims to demand the payment of debts were transferred to Kolomoisky.

What is more, Kolomoisky and AeroSvit agreed on providing interest-free repayable financial assistance on November 16, 2012, under which the businessman's financial assistance provided to the airlines for the period until November 15, 2013 amounted to UAH 102 million. However, AeroSvit did not pay the funds back on time, and UAH 186.15 million was charged as a penalty.

"The sum of the said debt is justified and verified by relevant primary documents, and the provided calculations are correct, hence the stated claims shall be recognized in full," the court said.

As a result, the court ruled to meet Kolomoisky's creditor claims against AeroSvit.

"[The court rules] to recognize Kolomoisky's money claims against AeroSvit in the following amounts: UAH 1,218 shall be paid as first-order creditors' claims; UAH 2.806 billion as fourth-order creditors' claims; UAH 186.150 million as sixth-order creditors' claims," the court's ruling reads.

As reported, AeroSvit, which was a large Ukrainian airline, initiated its bankruptcy procedure late in December 2012, however, the procedure was cancelled by the court. The company ceased operations and is not currently servicing flights.

Kyiv region's economic court on March 4, 2015, re- launched AeroSvit's bankruptcy case.

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