Grigorishin lost Novinsky and Lukyanenko in the London arbitration and must pay the plaintiffs more than $ 300 million

Grigorishin lost Novinsky and Lukyanenko in the London arbitration and must pay the plaintiffs more than $ 300 million. As reports “Mirror of week”, may 9, the London commercial international arbitration (LCIA) issued its verdict on the suit of shareholders of machine-building giant – Sumy NPO. Frunze Vadim Novinsky (SMART Holding, owner) and Vladimir Lukyanenko, Jr. (shareholder NGOs) to the majority shareholder of the enterprise – the Russian businessman, the owner of the group “power standard” Konstantin Grigorishin.

“The object of the proceedings is a dispute about the option to stake in PJSC “Sumy machine building scientific production Association named. Frunze” (Sumy machine-building NPO. Frunze)”, – writes the edition.

According to the court, Grigorishin had violated the shareholder’s agreement and is now obliged to pay the plaintiffs more than $ 300 million. That is the amount demanded Novinsky and Lukyanenko. If the defendant does not comply with the decision of the court, its assets in conditional group “Energy standard” will be sold at auction through the procedure of liquidation (receivership) to settle with the plaintiffs.

Side of the bonded obligation not to comment on the details of the trial, however Novinsky ZN confirmed that the court’s decision was not in favor Grigorishin: “I can confirm the existence of the mentioned decision of the London arbitration, but to disclose its details I have no right, because it would be a violation of the confidentiality clause”.

According to some, Grigorishin on this court’s decision is obliged to pay only in money, not assets.

Grigorishin currently owns 83.7% of Sumy Frunze NPO im. Frunze. Other shareholders are the brothers Surkis. Lukyanenko is a senior Grigorishin after removal from the plant control transferred his shares to his son, and he in turn sold 25% of its package Novinsky.

According to Forbes, NGOs from 2008 to 2013, sold products for a total amount of 1.46 billion euros, the amount of revenue amounted to 200-300 million euros a year. According to the results of 2015, the plant produced products for just 1.88 million USD. At the beginning of 2016, the Ministry of internal Affairs and fiscal service carried out searches in the office of the company in Sumy opened a criminal case on the fact of tax evasion and illegal withdrawal of funds abroad.

Recall that in April it became known about the petition Grigorishin who has the citizenship of the Russian Federation and Cyprus, on the acquisition of Ukrainian citizenship. Grigorishin previously extended their property in the Sumy NGO of the offshore company “Stremvol holdings LTD (Cyprus) owned company asset management (“Svarog assets Management”).

Another suit by the same amount – $ 300 million. – in 2013, was filed with the Department of judicial arbitration and mediation USA former partner of ex-Prime Minister Pavlo Lazarenko, Peter Kirichenko. A claim not presented to the companies Grigorishin, and to him personally.