"This is not an acquisition, but a recovery through bankruptcy." Creditor of Olympes about the future of the asset.

In early September 2025, the Supreme Court of Ukraine is scheduled to hear a case in a dispute between the American investment fund Argentem Creek Partners (ACP) and the owner of a grain terminal in Odesa, the Ukrainian company GNT Group. ACP is a creditor of the domestic company. The court decision will concern the bankruptcy proceedings of LLC "Olimpex Coupe International" (the same name as the grain terminal). In July, the Supreme Court of Ukraine, in a similar case, ruled in favor of the creditor, annulling a mortgage agreement with domestic banks.

The legal dispute between ACP and GNT Group has a complex history, beginning long before Russia's full-scale invasion of Ukraine. ACP, along with partners, provided GNT Group with approximately $95 million in financing for the development of the "Olympix Coupe International" grain terminal in the port of Odessa. This funding was secured by a pledge of grain in storage.

However, even during the pandemic, GNT Group encountered difficulties. At that time, ACP allowed the company to secure financing from Ukrainian banks. It later transpired that the same collateral that was supposed to secure the ACP loan was used for the new loan. A key point in the legal dispute was the disappearance of $130 million worth of grain that was held as collateral. Subsequently, the High Court of London confirmed the fraudulent nature of the actions of the GNT Group beneficiaries.

LIGA.net I contacted representatives of the co-founders of GNT Group, Volodymyr Naumenko and Serhiy Groza, several times with an offer for an interview. In the meantime, we managed to speak with John Patton, a partner at the investment fund Argentem Creek Partners, about what is happening with the "Olimpex Coupe International" terminal, who owns and manages it, and what the future of the asset might be.