Kharkiv tractor plant cannot forecast production plan for 2016 due to attempt to 'destroy' enterprise - CEO

KYIV. Dec 18 (Interfax-Ukraine) - Kharkiv Tractor Plant now finds it difficult to forecast production plans for 2016 taking into account the threat of a halt of the company's operations because of a court decision on the recovery of more than UAH 400 million and criminal cases against the plant management, which the plant calls baseless and those aimed at destructing the enterprise.

Plant CEO Vladyslav Hubin said at a press conference at Interfax-Ukraine that on December 8 the Kharkiv Administrative Court of Appeals partially upheld the appeal of the tax authority, obliging the plant to repay debts to the state on the loans issued under state guarantees to the tune of UAH 400.98 million.

He noted that the debt on foreign loans, formed in 1998, was restructured in the framework of an amicable agreement signed in 2005 in the case on the plant's bankruptcy and payments must start only in 2030.

"In the course of a raider attack, realized under the slogan of nationalization, the standard instrument is used: an unfounded prosecution," Hubin said.