To: Prime Minister of Ukraine Mykola Azarov
Dear Mr. Azarov,
The deplorable virus of raider attacks has begun in Ukraine with new force. The memories of the recent arrogant raider attacks on business are still very fresh for all of us. Today this malicious practice continues to manifest itself in such cases as the attack on the Kyiv’s legendary shopping mall “Ukraina.”
We, the Swedish company Quinn Holdings Sweden AB, are currently locked in a fight to retain the control over this enterprise, in which we own almost 93% of the shares. Yet, taking into account the circumstances of our case, we have all grounds to assume that we are in danger of being deprived of our property.
In April of the current year an unfounded lawsuit was brought against Quinn Holdings Sweden AB, which resulted in the attachment of all shares of the shopping mall “Ukraina”, owned by the above-mentioned foreign company. The market value of the shares in question amounts to tens of millions of US dollars.
Moreover, an additional lawsuit was filed against Irish Bank Resolution Corporation – an Irish bank, which is owned by the Government of the Republic of Ireland, and which earlier on financed the purchase of the shares of “Ukraina” – the main objective of which is to invalidate the mortgage agreement for the building of the “Ukraina” shopping mall.
As a result of a series of unlawful activities on the part of the former management of the Mall and other persons, numerous obstacles, which make it impossible for us, the owners of almost 93% of the shares of the “Ukraina” shopping mall, to exercise our lawful rights, have been and continue to be created.
Despite having the status of the majority shareholder, Quinn Holdings Sweden AB has been literally stripped off of their power to control the running of the enterprise.
This issue has received extensive media coverage in Ireland, including on the premier Irish State television channel. It is also receiving international media coverage. This week the matter was featured in the Financial Times.
For more than two weeks now the newly appointed acting director of “Ukraina” shopping mall, whose appointment was approved at the general shareholders meeting by both majority and minority shareholders, is unlawfully denied access to his place of work.
The situation has almost reached the point, beyond which the shareholders of “Ukraina” shopping mall risk losing control over the enterprise irrevocably. Our efforts to protect our rights and our property continue to be obstructed by outrageously crude actions which systemically violate the law.
With the support of the Irish bank Irish Bank Resolution Corporation, which is today state-owned, we have invested considerable financial resources into the shares of the Mall.
We assumed all the risks and responsibilities for the shopping mall “Ukraina,” became an example of the growing trust of foreign investors to doing business in Ukraine. Tomorrow we can lose everything. We appeal to you, Mr. Prime Minister, with the request to take this matter under your personal control.
Yours sincerely,
Robert Dix,
Board Member,
Quinn Holdings Sweden AB
For more information please refer to: www.univermagukraina.com
