The court returned titanium and magnesium plant Firtash state

Суд вернул титано-магниевый комбинат Фирташа государству

Economic court of appeal confirmed the termination of the contract between the firm ztmc and Firtash.

Central economic court of appeal upheld the decision on termination of the agreement on the establishment of OOO Zaporozhye titanium-magnesium plant and the return to the state of the whole property complex of the plant. On Thursday, December 13, according to the Specialized anti-corruption Prosecutor’s office in the social network Facebook.

So, on 12 December, the court refused satisfaction of the appeal complaint of the defendant against the decision of the Economic court of Zaporozhye region from 09.07.2018, which fully satisfied the claim of the head of SAP nazara Holodnitsky in the interest of the state to the company Tolexis Trading Limited (Cyprus) and PJSC Zaporizhia titanium and magnesium plant on termination of the agreement on the establishment of this society and return to the state integral property complex of the plant.

In accordance with the provisions of the Economic procedural code, after the adoption of the decision of the court of appeal comes into force.

SAP expects the announcement of the full text of the adopted Central appeal economic court the resolution on refusal in satisfaction of these appeals, which will allow involving all the competent state authorities to begin the process of real return of the plant to the state.

Established in 2013, supposedly with the aim of attracting investments for implementation of modern technologies and modernization of production state enterprise ztmc became a limited liability company.

The Treaty of establishment concluded with the winner of competition the state property Fund – an offshore company Tolexis Trading Limited (Cyprus), which is included in group of companies Group DF, controlled by businessman Dmitry Firtash.

The state property Fund transferred to the capital of the company integral property complex of the plant, which had previously been in control of DP ztmc.

The state share in OOO made up 51% (controlling stake), 49% of the company owned by businessman Dmitry Firtash (through a Cyprus company Tolexis Trading Ltd).

Tolexis Trading Limited has allocated 110 million dollars to Finance the modernization of production. Work was supposed to end in the first quarter of 2015.

Previously, the company Firtash was searched due to suspicion of laundering more than 500 million hryvnia.

Lutsenko expressed a suspicion Firtash


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