Pechersk Court transferred the assets of the fugitive Zhevaho to ARMA, including shares of the Poltava Mining and Processing Plant

Pechersk Court transferred the assets of the fugitive Zhevaho to ARMA, including shares of the Poltava Mining and Processing Plant

The Pechersk Court of Kyiv transferred the assets of businessman Kostyantyn Zhevaho to the National Agency of Ukraine for the Detection, Search, and Management of Assets (ARMA). Among them are 49.5% of the shares of PJSC "Poltava Mining and Processing Plant."

This was reported by the press service of the State Bureau of Investigations.

The assets were seized as part of the SBI’s investigation into Zhevaho and his accomplices on suspicion of embezzling $113 million from the "Finance and Credit" bank.

On February 20, the SBI announced that the assets and corporate rights of PJSC "Poltava Mining and Processing Plant" are planned to be confiscated to the state’s income due to sanctions against Zhevaho.

Later, Ferrexpo reported that none of the group’s companies had received any official documents or inquiries from the Ukrainian authorities regarding the decision of the Pechersk District Court of Kyiv and does not have a copy of the court decision.

Thus, at this stage, the details of the court decision remain unclear, and the company is working with its legal advisors to further clarify the situation.

The group emphasizes that Kostyantyn Zhevaho is not the owner of any shares of Ferrexpo Poltava Mining, which is 100% owned by Ferrexpo AG (registered in Switzerland), which, in turn, is 100% owned by Ferrexpo Plc.