The AIS Group, one of the leading players of the Ukrainian automobile market, has accused DCH, the beneficiary of which is businessman Oleksandr Yaroslavsky, of an illegal seizure aimed at gainning control over the automobile holding, the AIS Group said in a press release issued on Thursday, November 7.
The group said that over the past several days the AIS Group, its shareholders and members of their families had been put under pressure by unidentified people who aimed to gain control over the company.
“Various schemes for blocking the operation of the company both on the territory of Ukraine and outside the country are being used. The grounds for the attack are the unfinished talks with creditors. Studies of the attempts of illegal seizure by AIS lawyers give grounds to assume that the actions were planned and are conducted by Yaroslavsky’s business group DCH,” the company said.
The group said that due to the impact of the global financial crisis on the Ukrainian market AIS and other companies faced a catastrophic decline in sales of cars in 2009 – by over 70%. The sharp devaluation of the hryvnia and problems in the economy resulted in the violation of the credit payment schedules.
“Despite the great difficulties and the continuous crisis on the automobile market, AIS in 2009-2013 managed to settle problems with its debt and restructuring of the credit portfolio. Agreements to restructure debts with a number of foreign and Ukrainian banks were achieved – Alfa-Bank, Swedbank, Raiffeisen Bank Aval, Megabank and Credit Europe Bank,” the group said.
AIS said that the illegal actions of DCH could result in blocking the operation of the largest player of the automobile market, two automobile plants and the national retail chain, which will entail the stoppage of the operation of the holding with almost 10,000 employees and the non-payment of tens of millions of hryvnias of taxes to budgets at all levels.
“The dark reputation of Mr. Yaroslavsky was linked to illegal seizures of the company’s assets. Juicy scandals around Ukrtatnafta and the Karavan megastore hypermarket chain can be used as examples,” the group said.
The group said that it would use all mechanisms foreseen in Ukrainian law to protect its rights and legal interests from seizers in the economic and criminal-procedural areas.
“The company’s lawyers are studying options for an appropriate answer to the illegal attacks,” the group said.
As reported, AIS Group planned to hold a press conference with participation of the co-founder of AIS Dmytro Sviatash and Head of the supervisory board Vasyl Poliakov on November 7, although later it was decided to present the official position via a press release.
Kyiv’s economic court in September 2013 arrested the property of Ukrbusiness Ltd. and Legalplace Ltd. (both – Kyiv-based), including car centers in several Ukrainian cities, in favor of a claim filed by Kharkiv-based PJSC UkrSibbank to recover UAH 727.198 million from those companies.
The claim is based on the fact that Ukrbusiness and Legalplace transferred property to the bank on collateral to guarantee the fulfillment of loan liabilities by third parties, including Kremenchuk vehicle assembly plant, which is part of the AIS Group, according to a court ruling dated September 3, 2013, which has been entered on the Ukrainian state register of court rulings. At the same time, the liabilities haven’t been met.
Alfa-Bank (Ukraine), VTB Bank (both based in Kyiv) and UkrSibbank (Kharkiv) since 2009 have been involved in litigations with companies affiliated with Dmytro Sviatash (MP, Party of Regions faction, the co-founder of Autoinvestbud, later AIS Group).
According to the banks’ information, during litigations they faced the fabrication of documents by borrowers, the illegal sale of mortgaged property and the artificial bankrupting of companies to avoid paying back liabilities they had taken on.
In July 2012, the banks asked Ukrainian Premier Mykola Azarov to help in colleting a debt of over $250 million from the AIS Group.
Sviatash earlier said that since 2009 he has withdrawn from the structure of co-founders of the AIS Group.
AIS is one of the leaders of the Ukrainian automotive market, which has been operating for over 20 years. The brand portfolio consists of around 20 brands and it has own car center chain.
