Ex-owner of Kyiv’s Gulliver Tower launches countersuit against two state banks

The former owner of the Gulliver shopping and office complex in Kyiv, Tri O, challenged its registration under the Oschadbank і Ukreximbank and plans to appeal the decision to open bankruptcy proceedings against it. About this said three O's press service on Friday.

"On November 17, 2025, the Kyiv City Commercial Court [opened] proceedings in a case brought by Tri O LLC to declare illegal and cancel the decisions of private notary Iryna Gamal to register the ownership of Gulliver and its land plots with state banks, including on grounds related to the valuation of the property," Gulliver's website says.

The company believes that this is the reason for the opening of bankruptcy proceedings initiated by the banks.

Three O insists that the bankruptcy filing is illegal because the company has been undergoing a preventive restructuring procedure since March 2025, which provides for a moratorium on bankruptcy proceedings.

The company plans to file an appeal against the decision to open bankruptcy proceedings and is considering filing a complaint with the High Council of Justice against the judge who made the decision.

• At the end of July 2025 Oschadbank and Ukreximbank officially become owners of Gulliver – one of the largest commercial facilities in the capital. This was the final stage of a multi-year litigation and collection procedure initiated by the banks due to the default of Tri O LLC on its debt obligations.
• on October 17, the court lifted the arrest with TOC Gulliver, imposed in criminal proceedings against the officers of Three O LLC. The company was the developer and official owner of a skyscraper built in 2013 with loans from two state-owned banks in the amount of $441 million.
• From October 30 Gulliver has suspended operations, as Oschadbank found sabotage of critical systems skyscraper.