By KYIV. May 8 (Interfax-Ukraine) – Former minority shareholders of PJSC Poltava Mining (Ferrexpo Poltava Mining, Horishni Plavni, Poltava region), the largest producer of iron ore pellets in Ukraine, which is the main asset of the Swiss Ferrexpo AG, demand to recover more than UAH 135 million of debt for the forced buyout of Poltava Mining shares in 2019.
According to the ruling of the Skhidny Economic Court of Appeal on the opening of appeal proceedings dated April 20 this year in case 917/542/22, two plaintiffs demand from Poltava Mining and Ferrexpo Plc (London) to recover jointly and severally from them debts of UAH 51.696 million and UAH 84.36 million.
At the same time, it is stated that by the decision of the Economic Court of Poltava region made on February 15, 2023 in case No. 917/542/22, the petition of Poltava Mining was granted, and the case was returned to the stage of preparatory proceedings. The proceedings were stopped pending consideration of case No. 910/15551/20 by the Supreme Court (the Grand Chamber of the Supreme Court of Ukraine on April 19, 2023 canceled the decision of the Pivnichny Economic Court of Appeal to invalidate the 2002 agreement on the sale and purchase of 40.19% of Poltava Mining shares and their transfer to four companies – former shareholders of the enterprise).
In addition, the plaintiffs filed a complaint with the Skhidny Economic Court of Appeal. Having considered the materials of the case and the appeal, the panel of judges came to the conclusion that the appeal proceedings were opened in the case.
The court set a deadline for the participants in the case until May 15, 2023, inclusive, to submit responses to the appeal with evidence of their sending to other participants in the case. In addition, the court decided to demand the materials of the case from the Economic Court of Poltava Region.
