The shares of Kryvy Rih Iron Ore Plant owned by the Ukrainian businessman have changed the owner, NV Business reports, citing the London court decision.

According to the report, Kolomoisky sold 50% of the mine in Kryvy Rih for $926 million to Russian citizen Mikhail Voevodin – allegedly, the businessman concluded such an unusual agreement with the Russian businessman before the nationalization of PrivatBank.

It is noted that Kolomoisky continues to manage the mine.

The publication refers to the decision of the High Court of Justice in London published on January 31, 2023, by which it strengthened the effects of the Worldwide Freezing Order (WFO) on the former owners of PrivatBank, Ihor Kolomoisky and Hennadiy Boholiubov.

Now WFO can be applied to transactions carried out in the last 5 years, that is, after the introduction of worldwide arrest. This applies to dividends, their distribution or other income, as well as bank accounts in excess of GBP 1 million. The court did not take into account the arguments of Kolomoisky's side.

"There are several surprising features in the agreement. Firstly, the initials but not the full names of the parties to the agreement are indicated on the document,; secondly, the period for which payments must be completed is not indicated; thirdly, the jurisdiction for resolving disputes is not indicated, although at the top of the document it is indicated that it was signed in Geneva. Under the terms of the agreement, Kolomoisky continues to manage the sold stake until the settlement is completed, and Voevodin agreed to limit his right to dispose of the shares," the publication said, referring to the comments of a PrivatBank representative during the meeting.

At the same time, with reference to the judge, it is noted that the agreement regarding the plant is notable for its informality - it is surprising that the agreement fixing the obligation to pay almost $1 billion for the fulfillment of certain conditions has such a form. He also agreed with the conclusion of the representative of PrivatBank that the agreement showed the existence of close relations and a high degree of trust between Kolomoisky and Voevodin.

Voevodin and Selivanova were in the unified state register of legal entities and individual entrepreneurs among the ultimate owners of Kryvy Rih Iron Ore Plant in 2019-2020.

In the British court, the financial institution accuses the former owners of withdrawing almost $2 billion. Currently, the amount is $4 billion, including interest, PrivatBank data are given in the publication.