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"Fakty" about the attempt to capture the grain terminal in Odessa: "Blitzkrieg" of Argentem Creek Partners in an attempt to seize the grain terminal in Odesa fails

The terminal in Odessa loads vessels with Ukrainian agricultural products as part of the "grain initiative"
Photo: fakty.ua
Hedge fund Argentem Creek Partners is reducing the intensity of aggressive actions against the Ukrainian holding GNT Group due to the failure of the plan to quickly raid the terminal of Olimpex Coupe International LLC, according to an article in "Fakty"published on April 22. The authors of the article came to this conclusion due to the almost three-week absence of public activity by the hedge fund.

"Previously ACP or their partners systematically carried out information attacks against the GNT Group holding and its management, as well as regularly reported on the new court or official decisions in their favor. In particular, we are talking about the Order of the Minister of Justice Denys Malyusyka #929/5 dated 10.03.2023, which prevented the execution of the decision of the Western Commercial Court of Appeal, which sided with the head of Olimpex Coupe International LLC. Thus, the minister grossly violated the provisions of the Constitution of Ukraine, which speak of the mandatory nature of court decisions" – according to an article.

"Facty" notes, referring to Ukrainian and foreign analysts, that ACP used administrative resources, but this also did not yield results.

"The scandal between the Ukrainian agrarian holding and the offshore-registered "American" hedge fund is becoming a less and less discussed topic since the representatives of the Ukrainian authorities and agricultural enterprises saw that the work of the strategically important enterprise Olimpex Coupe International LLC did not stop even despite the lawsuits and active struggle of the parties. According to our information, ACP has failed to obtain either physical or legal control over the grain terminal, which loads vessels with Ukrainian agricultural products as part of the "Grain Initiative" – according to an article.

Foreign and Ukrainian courts have already ruled in favor of the GNT Group in recent months, effectively depriving ACP of any opportunity to carry out a raider seizure, according to an article.

"At the same time, the hedge fund is still trying to bankrupt the terminal operator through the courts in order to stop its operation and sell it to a third party. The probable "third party" HUB's investigators call DF Group oligarch Dmitry Firtash, with whom Davyd Arakhamia met in November 2022 – shortly before the start of ACP's attempt to seize the assets of GNT Group" – according to "Fakty".

Recall that Dmytro Firtash is called the owner of the Mykolaiv port terminal "Nika-Tera". It has completely suspended its work since the beginning of the Russian invasion and still has no opportunity to continue its activities since the port of Mykolayiv is not part of the "Grain Initiative".