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Private Joint Stock Company "Zaporizhzhya Abrasive Plant"

Сategory Connected to PEP
Taxpayer's number 00222226
Current state registered
Дата створення Dec. 25, 1995
Address 69014, Запорізька обл., місто Запоріжжя, вул. Олексія Поради, 44
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Connected PEPs
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Structure
Name Position Власність, % Period
Head of the Board
Member of the Supervisory Board (representative of the shareholder) April 7, 2016 —
Head of the Supervisory Board (representative of the shareholder) April 7, 2016 —
owner of shares
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Connections to legal entities
Name Type of connection Code
Member of the supervisory authority FN189399d
Co-owner ΗΕ227257
Co-owner 283787
Co-owner 284806
Co-owner 30968373
Member of the supervisory authority 30860173
Controlled by 23362711
Former co-owner/co-founder 36336608
Counterparty 35601339
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Dossier

In April 2016 JSC “OTP Bank” stated that JSC “Zaporizhzhya Abrasive Plant” 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 stating 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.

In its annual statement for 2016, PJSC "Zaporizhzhya Abrasive Plant" indicate the existence of two court disputes regarding the above-mentioned loans:

1) Economic court of Dnipropetrovsk region, case No.  904/9662/13. Parties – JSC “OTP Bank” against LLC “Unisteel”, JSC “Zaporizhzhya Abrasive Plant”. Claims content: Debt collection. Claim amount – UAH 73,939,004.04. Current status of the case consideration – ruling of the court of 19 September 2016 stopped proceedings in the case No. 904/9662/13 until there is a decision of the economic court in the case No. 904/3588/16 on the bankruptcy of LLC “Unisteel” upon consideration of claims of PJSC “OTP Bank” (approval of register of creditor claims). 2) Donetsk Economic Court of Appeal, case No. 908/2469/16. Parties – PJSC “OTP Bank” against PJSC “Zaporizhzhya Abrasive Plant”. Claims content –  debt collection. Claims amount – UAH 80,586,011.02. Current status of case consideration – Decision of Economic Court of Zaporizhzhya Region of 12 December 2016 satisfied the claim in part, UAH 17,492,780.77 was collected from the defendant in favour of the plaintiff. The appeal of PJSC “Zaporizhzhya Abrasive Plant” was dismissed. Decision of Economic Court of Zaporizhzhya Region recognizes the decree of the Economic Court of Zaporizhzhya Region of 31 July 2017, issued for execution of decision of Economic Court of Zaporizhzhya Region of 12 December 2016 in the case No. 908/2469/16, as not subject to execution since “Zaporizhzhya Abrasive Plant” and the European Factoring Development Company (successor of OTP Bank in the case) concluded a contract on execution of obligations of guarantor. “Zaporizhzhya abrasive Plant” paid UAH 31,170,000,00.

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