PRESS RELEASE: Former management of Ukraina shopping mall continues to assist raiders
Kyiv, 19 March 2012. The details of a new court case aimed at facilitating a raiding seizure of the Ukraina shopping mall were unveiled today. The new lawsuit, filed by a person connected to the dismissed management of the mall, seeks to once again block a decision of the general meeting of the shareholders concerning the appointment of Rostislav Levinzon as the acting director. This information was distributed by the Magisters law firm, the legal advisors of the majority shareholder of the Mall – Quinn Holdings Sweden AB. The subject matter of the dispute was ownership property rights for one share of the Ukraina shopping mall. By coincidence, the owner of this share is Nelya Sergieva, on whose behalf numerous lawsuits were filed back in November-December 2011 concerning the annulment of decisions of the general meetings of shareholders. Claiming the ownership of one share, to which he was allegedly entitled according to the sales agreement with Nelya Sergieva at the unrealistic price of UAH 1,000, the claimant initiated a bogus lawsuit against the shareholder. This artificial claim was immediately used to stop the proceedings filed for by Nelya Sergieva, and thus cemented the blocking of the decisions of the general meetings of shareholders. Magisters advisors view the situation as the sequel of the absurd scheme of blatant humiliation of the Ukraine's legal system. In addition, the claimant in the case is Mr. Basmadzhan, A. K. – a man connected with the legal team of the former director of the mall, Larysa Yanez Puga. It is known that the name of Mr. Basmadzhan, together with the name of Volodymyr Gurtoviy and of other legal representatives of the former management, appeared in the press in connection with similar cases in the past. It is worth noting that in November-December 2011 lawsuits demanding the annulment of the decisions of the general meeting of shareholders of the mall were filed on behalf of Nelya Sergieva. Accepting these claims, the Kyiv City Commercial Court immediately issued an injunction to secure them, blocking the implementation of the relevant decisions of the general meetings, which in practice made it impossible for the newly appointed director to carry out his work. Actions aimed at the seizure of the Ukraina shopping mall began in April 2011. Exploiting various legal methods and numerous lawsuits filed at the Kyiv City Commercial Court, a team of lawyers connected to the currently dismissed director Larysa Yanez Puga, has practically blocked the ownership of the majority shareholder. The situation reached a culmination when the Kyiv City Commercial Court handed down a ruling ordering Univermag Ukraina to pay a debt in the amount of $45 million to a company registered in the Virgin Islands on the basis of a forged contract. Magisters are convinced that such actions are a signal of the raiders' intention to launch a bankruptcy procedure of the mall. IBRC (Irish Bank Resolution Corporation) is a financial institution that is fully owned by the Republic of Ireland and thus, indirectly, by all Irish taxpayers. Prior to a name change on October 14, 2011, IBRC was known as the Anglo Irish Bank Corporation Limited. Founded in 1964 in Dublin, the company continues to have its headquarters there today, with offices in other cities in Ireland and the United Kingdom. At the moment, the bank is being forced to actively assert its rights and lawful interests in the suits that have been initiated very recently in the Commercial Court of the City of Kyiv with the purpose of removing encumbrances on assets that have been placed under lien in the bank's favor. Quinn Holdings Sweden AB was founded in 2005 and is headquartered in Stockholm. Quinn Holdings Sweden AB (QHS) is the majority shareholder of PAT Univermag Ukraine, a publicly held company in Kyiv, Ukraine. Currently QHS holds nearly 93% of the company’s stock. For additional information, contact: Oleksiy Syvak, Senior Advisor, CFC Consulting +38(044) 492-75-99 or os@cfc.com.ua The press release has been issued on commercial terms. The Interfax-Ukraine News Agency is not responsible for its contents.