The interagency commission for safeguarding investors' rights, counteracting hostile takeovers and business seizures plans to consider a number of issues on Monday, Sept.16 among them are disputes around Swissport International Ltd. (Switzerland), McDonald's Ukraine Ltd. in relations with CJSC Radosyn production and trade firm, Porsche Immobilien Ukraine Ltd., the Prolisok health camp for children and their parents, the Ivushka recreation center, which is owned by Kyiv Training and Production Enterprise No. 3 of the Ukrainian Society for the Blind, as well as the illegal seizure of the seashore and coastal line in Odesa.
The commission is also to consider a claim by the European Business Association regarding the protection of investors’ rights and legislative initiatives related to the development of a state ‘anti-raider’ program.
As First Vice Premier Serhiy Arbuzov said when opening a commission meeting, the commission has already received 70 applications with an estimated loss from illegal seizures being from UAH 300 million to UAH 1 billion.
As he said, raiders use various tools, including the acquisition of shares and unjust court decisions.
“Today raiders more and more often use corrupt relations,” Arbuzov said.
According to him, cases when the fictitious bankruptcy scheme is used are on the rise. Besides, there are attempts to seize property which is not subject to privatization.
Arbuzov called on those businessmen who have suffered from illegal seizures to apply to the interagency ‘anti-raider’ commission for support.
“I guarantee appropriate support will be provided,” Arbuzov assured.
According to him, the creation of the favorable investment climate is one of the key elements of successful reform in Ukraine.
He also said the notion ‘raider’s activity’ would be stipulated legislatively, and amendments would be introduced to the Criminal Code in order to make those who organize illegal seizures liable for their crimes.
