Hedge fund Argentem Creek Partners is reducing the intensity of aggressive actions against the Ukrainian holding GNT Group due to the failure of the plan to quickly raid the terminal of Olimpex Coupe International LLC.
This is indicated by the almost three-week absence of any public activity of the hedge fund, according to an article of "Facty".
"Previously ACP or their partners systematically carried out information attacks against the GNT Group holding and its management, as well as regularly reported on the new court or official decisions in their favor. In particular, we are talking about the Order of the Minister of Justice Denys Malyusyka #929/5 dated 10.03.2023, which prevented the execution of the decision of the Western Commercial Court of Appeal, which sided with the head of Olimpex Coupe International LLC" - according to an article.
"Thus, the minister grossly violated the provisions of the Constitution of Ukraine, which speak of the mandatory nature of court decisions" - according to journalists.
However, according to the observations of Ukrainian and foreign analysts, even the use of administrative resources by involving People's Deputy Davyd Arahamia and Minister Denys Malyusyka in an attempt to raid GNT Group's assets did not bring ACP the desired result.
"The scandal between the Ukrainian agrarian holding and the offshore-registered "American" hedge fund is becoming a less and less discussed topic since the representatives of the Ukrainian authorities and agricultural enterprises saw that the work of the strategically important enterprise Olimpex Coupe International LLC did not stop even despite the lawsuits and active struggle of the parties.
According to information media, ACP has failed to obtain either physical or legal control over the grain terminal, which loads vessels with Ukrainian agricultural products as part of the "Grain Initiative"" - according to an article.
Foreign and Ukrainian courts have already ruled in favor of the GNT Group in recent months. At the same time, the hedge fund is still trying to bankrupt the terminal operator through the courts in order to stop its operation and sell it to a third party.
The probable "third party" HUB's investigators call DF Group oligarch Dmitry Firtash, with whom Davyd Arakhamia met in November 2022 - shortly before the start of ACP's attempt to seize the assets of GNT Group. It is assumed that the topic of the meeting was the joint management of the terminal of Olimpex Coupe International LLC after the "blitzkrieg" for its capture.
Recall that Dmytro Firtash is called the owner of the Mykolaiv port terminal "Nika-Tera". It has completely suspended its work since the beginning of the Russian invasion and still has no opportunity to continue its activities since the port of Mykolayiv is not part of the "Grain Initiative".