The business court of appeals of Kharkiv on January 27, 2014 is to hear a counterclaim made by public joint-stock company Azovobschemash Trade House against a ruling of the business court in Zaporizhia region on the arrest of accounts belonging to several companies incorporated in the Azovmash Group, which resulted from a claim made by public joint-stock company Alfa-Bank (Kyiv), which demanded the collection of $36.12 million (or UAH 411.7 million).

According to a court ruling of January 15, 2015, the counterclaim had been accepted by the court. The petition of Azovobschemash Trade House to renew a missed deadline for submitting counterclaims was satisfied, as the reasons given for missing the deadline were ruled as valid.

Public joint-stock company Azovobschemash filed a similar claim to the court of appeals of Kharkiv. The hearing is scheduled for February 10, 2015.

The arrest of accounts belonging to six companies to secure Alfa-Bank’s claim was imposed by a ruling of the business court of Zaporizhia region on November 17, 2014.

In particular, the accounts of the parent company of the Azovmash Group – Azovobschemash, Ledovy Kompleks LLC, Azovobschemash Trade House, private joint-stock company Azovelektrostal, Mariupol Heavy Engineering Plant and public joint-stock company Poltavkhimmash (Poltava) were arrested.

The defenders (apart from Poltavkhimmash) had appealed against the ruling, which was heard on December 1, 2014. The court upheld the previous ruling

Azovmash Group (Azovmashinvest Holding) is one of the largest engineering complexes in Ukraine. It is known on the global market as a supplier of railway freight cars and platforms, bowers, road transport, steel, mining, and crane equipment.