Investor ZALK declares about pressure from the Ukrainian authorities

Инвестор ЗАлК заявляет о давлении со стороны украинской власти

Zaporozhye aluminium combine

Emergofin B. V. intends to file additional appeals to courts and state bodies of Ukraine.

The owner of 68.01% stake in the Zaporozhye aluminum plant, Emergofin B. V., declares the illegality of the actions of the Ukrainian authorities, deprived the company of property without compensation, and trying to re-privatize the mentioned shares. This is stated in a statement released on Monday, October 23.

“In 2015, after changes in the political situation in Ukraine, the specified bundle of shares had been illegally taken from investors without conducting a proper trial and payment of any compensation. In this regard, we were forced to seek protection of their investment in international bodies, starting arbitration proceedings against Ukraine in accordance with the rules of the International centre for settlement of investment disputes”, – said in a statement Emergofin B. V.

The company stresses that to achieve the imposition of interim measures before the end of the arbitration in the form of a ban on the sale of shares and provisions on the placing of all and any means received by Ukraine from the sale of shares ZALK in a blocked account to compensate for losses of the investor. The company also intend to file additional appeals to courts and public authorities of Ukraine with a demand to bring to justice the leaders of Zalka (Lobikov, Filonenko) and individuals associated with them who are destroying the company.

“In response to our lawsuit in the international arbitration Ukraine has strengthened illegal pressure on investors. With the connivance of the prosecution of all the repressive apparatus of the security Service of Ukraine initiated criminal cases on especially grave crimes (sabotage, financing of terrorism, forming a criminal organization, theft) against employees of companies connected with the investor. This is done on the basis of fabricated materials and untrue allegations and speculation,” – noted in Emergofin B. V.

So, the representatives of the company created obstacles for participation in General meetings of shareholders of Zap, despite the fact that 29, and 54% of the shares owned by the investor are not subject to any dispute.

In addition, after the loss of Emergofin B. V. Zalka control over the state property Fund of Ukraine appointed its representatives in the management bodies of the company. “The actual control of the plant was in the hands of people associated with the odious Ukrainian entrepreneurs. In 2016-2017 appointed by the SPF management (Lobikov, Filonenko) immediately began the physical destruction of equipment electrolysis production, at a lower price was sold and removed from the company’s unique liquid equipment (transformers, power lines and more),” – said in Emergofin B. V.

We will remind, in September, the court imposed arrest on the property of the Zaporozhye aluminum plant.