Arricano Real Estate Plc (Cyprus), the managing company and owner of several shopping malls in Ukraine and Crimea, has reported that the SkyMall project has been illegally and repeatedly re-registered to third parties.

According to an Arricano press release issued on December 30, 2014, despite bans on registration imposed by courts and law-enforcement agencies, 100% of the corporate rights of the Ukrainian company-owner of the project – Prizma Beta LLC – were transferred from Financing and Invest Solutions B.V. to Sky Holding LLC on December 17, 2014 by the Boryspil city and district justice department of Ukraine registrar Oksana Sulima.

"The purpose of the action is to hinder the execution of a London Court of International Arbitration (LCIA) decision and the resumption of legal rights of Аrricano to the project. Andriy Adamovsky, a partner of Аrricano in the SkyMall project, is diluting the structure of ownership rights of the project via multiple re-registrations. These actions are a classic fraud scheme, and actually, this is a theft of the project," the company said.

Arricano said that the gross violation of Ukrainian law over case with Prizma Beta, with the participation of registrars from the State Registration Service of Ukraine was registered for the second time in the past four months.

Аrricano addressed the Prosecutor General's Office publicly, and personally addressed Prosecutor General Vitaliy Yarema, President Petro Poroshenko, Prime Minister Arseniy Yatseniuk, Interior Minister Arsen Avakov and business ombudsman Algirdas Semeta, to ensure an unbiased investigation into the many alleged infringements concerning Arricano and its rights in the SkyMall project.