17:37 20.08.2019

Belize's Belmont, Cyprus' Poizanter in dispute over Mykolaiv-based Okean shipyard warn of filing claims to European courts

2 min read
Belize's Belmont, Cyprus' Poizanter in dispute over Mykolaiv-based Okean shipyard warn of filing claims to European courts

Belizean Belmont Industries Inc. and Cypriot Poizanter Holdings Limited, on the eve of the hearing of their cassation with the Supreme Court, in a dispute over the Mykolaiv-based Okean shipyard, addressed President Volodymyr Zelensky and the head of the Supreme Court with a letter warning them of their intention to appeal to European courts for the protection of their rights of foreign investors.

However, recent changes in the leadership of the state give hope for fair defense in the courts of Ukraine, the companies said in a document, a copy of which was handed over to Interfax-Ukraine on Tuesday.

The companies claim that in 2010, through bank accounts, they made EUR 60 million of investments in Okean shipyard, which were secured by a mortgage and collateral.

Over the past years, in order to take possession of the entire property complex of the shipyard by bringing it to bankruptcy, a criminal group, using corrupt ties in the judicial branch of power, by making court decisions deprived foreign investors of the rights of the mortgagee, Belmont and Poizanter said.

The companies named the current owner of the enterprise, the ex-chief of the Mykolaiv maritime merchandise port Vasyl Kapatsyna among their opponents and called the auction for the sale of the plant for $4 million "artificial."

The state suffered losses in the amount of UAH 103 million, foreign investors in the amount of $60 million, the shipyard's equipment is destroyed, land plots are divided into three, on far-fetched grounds, the shipyard's property was transferred to an offshore company mortgage for $15 million, they said in the letter.

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