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Public Joint Stock Company "Kryvyi Rih Turbine Plant "Konstar"

Taxpayer's number 13461621
Founded March 25, 1994
Current state on the dissolvement stage since March 17, 2017
Address 50045, Дніпропетровська обл., місто Кривий Ріг, ВУЛИЦЯ ОКРУЖНА, 127
Last profile update: Sept. 27, 2019

Connections:

Dossier:

In April 2016 JSC “OTP Bank” stated, that PJSC “Kryvyi Rih Turbine Plant “Konstar” is part of the business-group under influence of David Zhvania and Mykola Martynenko. So read the letter of the bank to the President of Ukraine Petro Poroshenko which state that in 2008 enterprise LLC "Unisteel"  have opened credit lines for the purchase of equipment for production of galvanized steel sheet (USD 18 mln USD and UAH 43 mln). Enterprise has been using the loan in several tranches during 5 years – from 2008 to 2013. From 2013 enterprise stopped payments, creating debt for the amount equivalent to more than UAH 200 mln.

The letter, signed by the Head of the Board of the bank Tamas Hak-Kovac, also explains why OTP Bank decided to issue a loan to a little-known company. “A decisive argument became the fact that the enterprise is connected with industry giants – JSC “Kryvyi Rih Turbine Plant “Konstar” and JSC “Zaporizhzhya Abrasive Plant”, that have production lines and liquid property. These enterprises and Unisteel are part of the business group that is under influence of Zhvania and Martynenko. Enterprises mentioned in the letter were the guarantors of the borrower. Zaporizhzhya Abrasive Plant made financial guarantees, and Konstar made property ones. The production line of Unisteel, for which the most part of the loan was spent, was installed on the territory of turbine plant.

According to the information of Economichna Pravda, among the participants of negotiations regarding receiving a loan was Serhiy Pereloma.

On 17 March 2017, PJSC “Konstar” is in the state of winding up pursuant to court decisions on recognizing a legal entity bankrupt and initiation of liquidation procedure No. 904/5722/14 of 09.03.2017. Bankruptcy procedure started in August 2017. According to the decision of Economic Court of Dnipropetrovsk region of 18 December 2014 the biggest creditors of PJSC “Konstar” were LLC “Trade House “Konstar”  for the amount of UAH 8,721,118.97,  LLC“Unisteel”  for the amount of UAH 13, 177,001, PJSC “Ukrsotsbank” for the amount of  UAH 48,316,829.63, PJSC “Insurance company “Mega-Polis” for the amount of UAH 3,160,167.62, LLC “Energotechprom” in the amount of UAH 14,734,545.87. Konstar was also a property guarantor for obligations of LLC “Energotechprom” and LLC “Trade House “Konstar” to the Diamantbank (LLC “Energotechprom” of UAH 15.45 mln, and LLC “Trade House “Konstar” of UAH 16.38 mln).

Within the bankruptcy process JSC “OTP Bank” also claimed their demands to PJSC “Konstar” and for some time became its main creditor. In December 2014, the court approved the register of creditor claims to “Konstar” for the general amount of nearly UAH 350 mln, UAH 200 mln of which belonged to OTP Bank. In the beginning of 2014 PJSC “Konstar” and Ukrsotsbank filed an appeal and decreased the amount of OTP Bank claims in seven times (down to UAH 28 mln). During the search in the office of Mykola Martynenko (4th floor, 6 Rylskogo lane, Kyiv - office of Mykola Martynenko according to media information) NABU detectives found and seized protocols of supervisory board meetings of PJSC “Konstar” for 2012-2013. 

more information is available in Ukrainian version of the dossier