“On July 4, 2023, Supreme Court as a part of Cassation administrative court ruled on the case №ЗД/380/1/23 stipulated as unjudicial the measures of securing the claim against Olimpex Coupe International LTD, Metalsukraine Corp LTD and ZKP Inzernoexport LTD that are owned by GNT Trade DMCC (GNT holding)" – Glavred quotes GNT press release.
The holding reminds that in December 2022 Argentem Creek Partners hedge found acting through its credit agent Madison Pacific Trust LTD commenced an attempt of raider takeover of GNT holding’s assets under the disguise of debt collection.
“To achieve its goal the credit agent had fired legitimate directors of Olimpex Coupe International LTD, Metalsukraine Corp LTD and ZKP Inzernoexport LTD and appointed the lawyers they had under their control. Then they removed legal addresses of the sea port operating companies from Odesa to Lviv where sea and ports are absent. By doing this Madison Pacific Trust LTD has blatantly violated corporate agreement and exceeded its authority,” stated GNT press office.
The holdings representatives added that the creditors did realize that they were committing a grave violation and that their prime intention was a raider takeover of GNT assets.
“That is proved by the fact that they were deliberately preparing for resistance from GNT against unlawful seizure of its assets,” noted the holding.
Also, the press release stated that in order to prevent legitimate managers from obtaining control over Olimpex Coupe International LTD, Metalsukraine Corp LTD and ZKP Inzernoexport LTD the raiders moved those legal entities to Lviv because they’ve had “necessary people” in courts there.
“One of these people appeared to be judge Oleksandra Zhelik of Lviv district administrative court who ruled on January 6 2023 that it is forbidden to make any registrational actions on Olimpex Coupe International LTD, Metalsukraine Corp LTD and ZKP Inzernoexport LTD,” reads GNT statement.
Representatives of holding suspect that the creditors intervened into autotomized system for distribution of court cases.
GNT pleaded to the Supreme Council of Justice asking it to take disciplinary measures against judge Zhelik and removed her from the judicial position.