Court seizes Novinsky's shares in 72 companies, including Metinvest
Vadim Novinsky (Photo: politician's press service)

The Shevchenkivskyi District Court of Kyiv has imposed an arrest on the corporate rights of 72 companies related to businessman Vadim Novinsky. On May 4, the court made the relevant decision within the framework of criminal case No. 761/15294/23. The document was made public on May 11.

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Among the companies listed in the decision are PrJSC "Ukrgazvydobutok", LLC "Smart-Holding", LLC "Arkona Gas-Energy", LLC "Regal Petroleum Corporation (Ukraine) Limited", MK "Zaporizhstal", MK "Kametstal", Central, Northern and Inhulets GZK (Mining and Processing Plants), as well as a number of coal-mining enterprises in the Pokrovska Coal Group.

In addition, the stake in Metinvest Holding LLC (23.76%) and its enterprises was seized.

The arrest was imposed for the purpose of preserving physical evidence in the criminal case.

On December 2, the National Security and Defense Council imposed sanctions against Novinsky due to his involvement in a religious organization affiliated with centers of influence in the Russian Federation. After that, it Was reported that he allegedly transferred his assets to a trust and stopped controlling the activities of the investment and industrial group "Smart-Holding".

The Security Service of Ukraine believes that Novinsky tried to get the business out of sanctions by re-registering it to Cypriot trusts. As part of the investigation, the Ministry of Justice returned the businessman to the list of beneficiaries of a number of Smart-Holding companies.

This enabled the seizure of the group's assets, including real estate and shipbuilding assets, and the suspension of the licenses of the gas company Enwell Energy.

Smart-Holding considers such actions "lawless". The company decided to sue Ukraine over the seizure of assets.

Smart-Holding announced the threat of all assets ceasing operations within a month or two.