Ocean Plaza mall now state-owned after court decision on confiscation enters into force

11.04.2023, 14:12
Ocean Plaza mall now state-owned after court decision on confiscation enters into force - Photo
Photo: Ocean Plaza

The decision of the High Anti-Corruption Court of Ukraine to confiscate two-thirds of the Ocean Plaza shopping center from Russian owners has entered into force, reports the website of the unified court register.

At the end of March, the panel of judges of the Appellate Chamber of the High Anti-Corruption Court refused to open an appeal proceeding in this case, in connection with which the decision became legally binding.
The appeal was rejected on the grounds that it was filed by Jupiter Nine Trust Company Limited, which was not a party to the administrative case brought by the Ministry of Justice of Ukraine.

The defendants in the lawsuit were Russian oligarch Arkady Rotenberg, his son Igor Rotenberg and business partners Aleksandr Skorobagatko and Aleksandr Ponomarenko.

The Ministry of Justice of Ukraine requested to apply a sanction in the form of confiscation of the assets of these persons to the state income and to take away:

- 100% shares of the authorized capital of Avangard-Vilarti LLC, registered to the Cypriot Ocean Plaza Project (Cyprus) Limited Ethoder Investments Limited;
– 66.65% of the share of the authorized capital of "Investment Union "Lybid" LLC.

IU "Lybid" is the direct owner of Ocean Plaza and belongs to "Avangard-Vilarti" LLC.

Ocean Plaza is one of the largest shopping and entertainment centers in Kyiv and Ukraine.

From February to the end of November 2022, it was closed. During this time, 67% of the corporate rights of "IU Lybid" LLC, which belong to Russian owners, were transferred to the control of the National Agency for Detection, Investigation and Management of Corruption Assets (ARMA).

The rest of the corporate rights of Investment Union "Lybid" LLC belong to the Ukrainian owners.

The profits of the Ocean Plaza shopping center located in Kyiv used to go to the family of Russian oligarch Arkady Rotenberg through a chain of companies, the Trap Aggressor project reported. Thanks to the funds received, his son purchased two cartridge factories in Russia that produced weapons for the Russian military industry.

Rotenberg was sanctioned by the National Security and Defense Council in October 2022.

If you notice a spelling error, select it with the mouse and press Ctrl+Enter.

Comments

Latest news