On July 4, 2023, the Supreme Court recognized as illegal measures to secure a claim against LLC "Olimpex Coupe International", LLC METALSUKRAINE CORP LTD (METALSUKRAINE CORP LTD), and LLC GRAIN OVERLOAD COMPLEX "Inzernoexport" - port infrastructure enterprises in Odesa.
This is stated in the press release of the GNT holding, says UNIAN.
"On July 4, 2023, the decision of the Supreme Court as part of the Administrative Court of Cassation in case № ZD/380/1/23 recognized as illegal the measures to secure the claim, which were established concerning LLC "Olimpex Coupe International", LLC "METALSUKRAINE CORP LTD" and LLC GRAIN OVERLOAD COMPLEX "Inzernoexport" owned by GNT Trade DMCC (GNT holding)," GNT notes.
The representatives of the holding recalled that in December 2022, the hedge fund Argentem Creek Partners, through the hands of its credit agent Madison Pacific Trust Ltd, began an attempt to raid the assets of the GNT holding, under the guise of "collecting loan debt."
"For this purpose, the credit agent dismissed the legal directors of LLC "Olimpex Coupe International", LLC "METALSUKRAINE CORP LTD" and LLC GRAIN OVERLOAD COMPLEX "Inzernoexport" and appointed in their place supervised lawyers and transferred the legal addresses of the port infrastructure enterprises from Odesa to Lviv, where there are no ports. Thus, Madison Pacific Trust Ltd grossly violated the corporate agreement and exceeded their authority," GNT wrote.
According to representatives of the holding, at the same time, the creditors knew that they were committing a gross violation and were preparing in advance for a raider seizure of GNT's assets.
"This is indicated by the fact that they prepared to counter GNT's attempt to illegally seize assets," the holding company notes.