Mriya Agro Holding has regained control of 10 companies with a total land bank of 5,000 ha
The corporate rights of 10 legal entities and their land assets of 5,000 ha have been returned to Mriya Agro Holding. A Commission at the Ministry of Justice of Ukraine for the Review of Complaints in the area of State Registration took a decision to this effect based on the Ukrainian Law “On State Registration of Legal Entities and Physical Entrepreneur-Entities” and the Ukrainian Law “On State Registration of Proprietary Rights to Real Estate and their Charges”. A Order Ministry of Justice Order to this effect cancelled the illegal registration measures taken in relation to these companies in the State Register of Legal Entities and Physical Entrepreneur-Entities as well as in the State Register of Proprietary Rights to Real Estate.
Mriya’s former management illegally re-registered the corporate rights of these 10 companies to external entities unconnected with Mriya. The illegal owners went on to change the composition of their participants (owners) as well as change their management and initiate liquidation procedures. They also terminated lease agreements of the land holdings and re-registered them to other legal entities.
“At the time of default, the previous owners of the company removed tens of legal entities together with over 1,000 pieces of equipment and lease agreements of around 60,000 ha that were registered with them”, Sergiy Ignatovsky, the Head of Mriya’s Legal Department said. “And after more than two years of criminal investigations and judicial investigations, this is the first real action by the state aimed at defending the rights of foreign investors and returning assets stolen from them.”
“The Ministry of Justice Commission saved from raider attack a company whose investors had put UAH 30 bn into the Ukrainian economy. The Ministry of Justice has returned property to investors from the US, France, Germany and Italy who invested in Mriya Agro Holding. Imagine the scale and importance of a company into which international creditors invested to all intents and purposes 25% of all foreign investment in Ukraine in 2016. The Ministry of Justice reviewed Mriya’s complaints of seizure of its assets as fast as possible. Over 4,000 illegal registration activities were cancelled and the property returned to its legal owners”, said Pavel Morozov, Deputy Minister of Justice.
In particular, the corporate rights of the following legal entities were returned: Novagros Ltd, Agroprodukt 2 Ltd, Kolos (private agricultural enterprise, Ternopil Region), Agronika-1, Slobodka Smotritskaya Ltd, Zhishchintsy Ltd, Barkosoft Agro 2 (Khmelnitsky Region), Agro-Vita (private enterprise), Ivano-Zolotoye Ltd, (Ivano-Frankivs’k Region), Promin-Agro (Chernivtsi Region)
Law enforcement bodies are carrying out further investigation and I hope that they will be as professional and prompt while following the law at all times. The state should guarantee the inviolability of property rights. State guarantees are themselves the basis of trust in the country and the development of the economy and the welfare of every Ukrainian by extension. It should be remembered that the Ministry of Justice actively participated in the development of the anti-raider law, 30 new statutes of which make it impossible to use the lion’s share of raiders’ schemes. The law is now showing its effectiveness, Pavel Morozov said in summary.