18:19 16.12.2016

Court satisfies claim of Mriya bondholders asking to admit $573 mln worth of debt liabilities

1 min read
Court satisfies claim of Mriya bondholders asking to admit $573 mln worth of debt liabilities

Ternopil business court has satisfied a claim of bondholders of Mriya agroholding and declared valid debt obligations of 68 companies, part of the holding, that acted as sureties of Mriya Agro Holding Plc on these bonds.

"The claim relates to the surety obligations of the 68 Mriya group companies for the overdue debt obligations of Mriya Agro Holding Plc (Cyprus) of $573 million (approximately UAH 15 billion), which consists of the outstanding principal amount and interest due since August 2014 when the company defaulted under the eurobonds by not paying contractual interest," the holding said.

Mriya CEO Simon Cherniavsky said that this is a first case when bondholders file a claim to a Ukrainian court.

"This is an example when the Ukrainian judicial system showed its ability to protect rights of foreign investors," he said.

Mriya agroholding recognizes claims of the bondholder on the debt inherited from the previous owners of the company. The company hopes courts would issue competent and unbiased decisions in the future in the debt restructuring of the company.

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