On Wednesday, September 17, 2025, a court hearing is scheduled regarding the bankruptcy of the large pharmaceutical manufacturer, Arterium Corporation, and its subsidiary, Kyivmedpreparat. Both companies belong to Kostyantyn Zhevago. The bankruptcy is being pursued by Sky-Development, owned by Leonid Kryuchkov, which purchased Arterium's debts to the bankrupt bank "Finansy i Kredit" from the State Property Fund.

In early September, the press service of "Arterium" released a statement about a de facto hostile takeover, accusing Sky-Development of attempting to seize the property of the enterprises "Kyivmedpreparat" and "Arterium".

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"The situation surrounding PJSC 'Halychpharm' and other enterprises of the 'Arterium' group looks like a classic example of a change of control over enterprises through bankruptcy instruments," says Anastasia Povelyko, a lawyer at Juscutum. She has experience in similar cases – in 2018 she was an assistant to the bankruptcy trustee who acted as the liquidator of PJSC 'Rosava'. This is also a former asset of Konstantin Zhevago.

What's happening around "Arterium"? And what are Konstantin Zhevago's chances of saving the asset? A correspondent investigated this tangled story LIGA.net.

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HalychpharmSky Development