Pechersky district court of Kyiv has lifted the arrest of machinery belonging to OTP Leasing (subsidiary of OTP Bank (Kyiv), part of OTP Group) which was seized from Mriya agroholding.

OTP Leasing said in a report that the machinery was seized from Mriya due to the non-fulfillment of financial liabilities and waS arrested for the past three months (from February 18, 2015).

"On June 3, 2015, Pechersky district court of Kyiv canceled the arrest imposed by the court earlier. 558 machinery and equipment units worth $25.2 million are again ready for sale and leasing," reads the report.

As reported, OTP Leasing has resumed cooperation with Mriya agricultural holding under the equipment leasing program. The companies have reached an understanding and signed a new leasing agreement, according to which OTP Leasing will transfer to Mriya machinery and equipment worth $2.8 million.

Under the agreement, the agroholding will receive previously seized equipment in connection with its failure to fulfill contractual obligations. The agreement is valid for one year with the possibility of an extension. Negotiations on the return of the remaining machinery and equipment are ongoing.

In October 2014, OTP Leasing reported that in 2010-2013 it leased 615 units of equipment to Mriya, including tractors, trucks, trailers and combines of the world's best manufacturers. The holding's companies stopped paying for the machinery in May 2014. The debt then reached $23.357 million.