Akhmetov ordered to return to the state Bank 810 million

Ахметова обязали вернуть госбанку 810 миллионов

Company of the businessman ESU was accused of improper execution of obligations on payment of interest on the bonds.

Kyiv economic court ordered the company ESU (ESU), which is the majority shareholder in fixed line operator Ukrtelecom and belongs to businessman Rinat Akhmetov, to return to the state Ukreximbank 810,6 million hryvnias of debt on the bonds.

This was reported by UNIAN with reference to a decision of the court of 17 October, published in the Unified state register of court decisions.

“Partially satisfy the claim. To recover from the limited liability ESU in favor of the open joint stock company the State export-import Bank of Ukraine UAH 671,3 million of principal debt, UAH 103 million penalties, 25.9 million UAH inflation losses, 10.2 million UAH per annum (3%) and 206,6 thousand UAH of expenses on payment of state duty”, – is spoken in the decree of the court.

This decision was due to the fact that the company ESU has improperly performed obligations on payment of interest on the bonds.

ESU purchased operator Ukrtelecom in 2011, paying of 10.57 billion 92,79% of shares. This purchase was partly financed by two state banks. As reported by Ukrainian media shortly before his transfer to the account of the state property Fund second tranche for the acquisition of Ukrtelecom to the ESU has issued bonds in the amount of 4.2 billion UAH. In the course of a private placement bought out Oschadbank and Ukreximbank.

Still, the company was unable to redeem in full the bonds from state-owned banks. The maturity of bonds ESU ended in 2015, but the company has delayed the repayment until March 2017. According to media reports, in 2015, Ukrtelecom has committed itself to buy bonds of state-owned banks ESU in the amount of UAH 2 billion and pay interest.

If the company ESU does not repay its obligations to the Ukreximbank and Oschadbank before the designated period, its stake in Ukrtelecom may become the property of the banks.

As reported Корреспондент.netOschadbank intends to receive from Russia compensation in the amount of more than a billion dollars in seized assets in the annexed Crimea.

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