The Shevchenkivsky District Court of Kyiv has seized the corporate rights of 72 companies associated with the assets of the pro-Russian oligarch Vadim Novinsky, controlled through Smart Holding or through affiliated offshore firms.

The relevant ruling, a copy of which is at the disposal of Interfax-Ukraine, was issued by the court within criminal case No. 761/15294/23 on May 4, 2023. The ruling entered into force on May 10, and the document was made public on May 11.

The ruling on the seizure of Novinsky's property was made at the request of the head of the third unit of the pretrial investigation and public prosecution procedural management office of the Department for Supervision of Compliance with Laws by Security Agencies of the Prosecutor General's Office on the grounds of a criminal offense under Part 2 of Article 28, Part 1 of Article 111-2 of the Criminal Code of Ukraine.

At the same time, the court found that the prosecutor filed a petition with the judicial investigator to seize the corporate rights of companies where the beneficial owner of shares in the charter capital is Novinsky or persons affiliated with him, in order to preserve material evidence.

During the pretrial investigation, it was established that in the period 2022-2023, this citizen of Ukraine, in respect of whom personal special economic and other restrictive measures (sanctions) were applied in December last year by the president's decree, acting by prior agreement with persons engaged in professional activities related to the provision of public services on the territory of Ukraine, avoiding the blocking of his assets, committed actions aimed at changing the owner (ultimate beneficiary) of the corporate rights of his enterprises both in Ukraine and abroad.

At the same time, the definition provides a list of companies, among which, in particular, PJSC Ukrgasvydobyvannia, Smart-Holding LLC, Arkona Gas-Energy LLC, Regal Petroleum Corporation (Ukraine) Limited LLC, Zaporizhstal, Kametsteel, Central Mining, Northern Mining, and Inhulets Mining, and a number of coal mining enterprises in the Pokrovske Coal Group. In addition, a stake in Metinvest Holding LLC (23.76% share) and its enterprises was seized.

"Thus, he transferred the corporate rights and assets of his enterprises to citizens of a foreign state, including persons directly connected with the aggressor state, by which he committed deliberate actions aimed at helping the aggressor state (aiding) through the preparation and transfer of material resources or other assets to representatives of the aggressor state," the court's ruling states.

After the application of personal sanctions, this citizen, to avoid the restrictions applied and the possible blocking of sources of financing for persons associated with the Russian center of influence, as well as for financing destructive activities in favor of the aggressor state, attracting Cypriot citizens operating on the territory of the Russian Federation, founded the Cyprus International Trust, and transferred the assets of his group of companies.

Officials in Ukraine, in particular notaries, who legalized these transactions, are involved in the fraud. In turn, the Ministry of Justice of Ukraine, by its orders dated April 10 and May 2, 2023, canceled the illegal actions of public registrars and private notaries and deleted information regarding the ultimate beneficial owner of companies from the public register. At the same time, information about the actual final beneficiary was restored in the register.

The court granted the petition and seized Novinsky's corporate rights in 72 companies and enterprises.

"The ruling is subject to immediate execution," the court said.