On February 17, the Pechersk District Court of Kyiv ruled in favor of “Olympex Coupe International” LLC (an asset of the GNT Group holding), which loads ships in the Odesa port for export under the “Grain Agreement”.
This is another court decision in favor of the holding in the dispute with the creditor company Argentem Creek Partners and its agent Madison Pacific Trust Ltd.
This became known from the press release of GNT Group.
As noted by GNT Group, Argentem Creek Partners and Madison Pacific Trust Ltd are trying to raid the strategic grain terminal “Olympex Coupe International”, which serves the “Grain Corridor”, but international and Ukrainian courts have already passed a number of decisions in favor of GNT Group:
- The District Court of Nicosia (Cyprus) has banned Argentem Creek Partners and Madison Pacific Trust Ltd from trying to seize, sell or disrupt the grain terminal.
- The Western Commercial Court of Appeal (Ukraine) annulled the illegal decisions of the general meeting by which Madison Pacific Trust Ltd dismissed the general director of “Olympex Coupe International” LLC and moved the company’s legal address from Odesa to Lviv.
- The Pechersk District Court of Kyiv adopted a resolution and satisfied the company’s application and canceled security measures against it.
GNT Group emphasizes that its dispute with creditors should be resolved by an arbitration court in Great Britain – therefore, Ukrainian and even other international courts should ensure the holding’s interests and protect its assets from raider seizure attempts.
As the holding emphasized, despite legal disputes, GNT Group continues to support the functioning of the grain terminal, as well as fulfill all its obligations to partners and counterparties.
GNT Group is a Ukrainian holding that is a significant taxpayer and employer. The company has been working in Ukraine for 25 years, attracting tens of millions of dollars of investment during this time, is among the TOP-10 exporters of the country and provides 1,500 jobs.
