State bank sues billionaire Ukrainian Zhevago over debts

Photo: UNIAN

Photo: UNIAN

Ukraine's State Oschadbank has sued Kostyantyn Zhevago's AvtoKrAZ seeking shares of five enterprises worth UAH 900 million to cover debts. Ukraine's Northern Appellate Economic Court refused to satisfy the complaint of the automaker, with which the latter tried to avoid foreclosure, reports Finbalance.

The bank acquired shares of Poltava Auto Aggregate Plant, Tokmak Forge-and-Stamping Plant, Kherson Cardan Shafts Plant, Simferopol Auto Steering Plant and Kamenets-Podolskavtoagregata. Now the bank will be able to sell the securities of these enterprises.

Context

  • Oschadbank demanded UAH 810 mln from bankrupt AvtoKrAZ. The liquidator of the Finance and Credit Bank, which also belonged to Zhevago (UAH 5.1 billion), the liquidator of Delta Bank (UAH 1.3 billion), Prominvestbank (almost UAH 2 billion) and Ukreximbank (UAH 6.8 billion) have also made their demands. Several other companies, which are also associated with Zhevago, have also requested repayment of debts.

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