AMCU fines US company for buying Bakhmatiuk's companies without permission

The Antimonopoly Committee has fined a US company for buying companies owned by businessman Oleh Bakhmatiuk without permission.

This is indicated in the AMCU statement, the Ukrainian News agency reports.

The AMCU decided to fine TNA Corporate Solutions LLC (USA), owned by American Nicholas Piazza, UAH 2.21 million.

The fine was imposed for violation of the law in the course of concentration when acquiring shares in the authorized capital of 14 companies that were part of Oleh Bakhmatiuk's Ukrlandfarming agricultural holding.

The companies in question are Bakhmatyuk's Avangard Agroholding, Avangard Financial and Consulting Company Ltd. and Trade-Agro LLC, Agrarian Perspective LLC, Agricultural Enterprise Vesna 21 LLC, and the Ukrainian-English joint venture Dubnotsukorinvest LLC, Budyshcha LLC, Vilna Sloboda LLC, Interbiznes Private Research and Production Company, Zolotyi Lan-N LLC, Dobrobut Private Agricultural Enterprise, Saan-Agro LLC, Agrotech Distribution Company LLC, and Hetmanske LLC.

As the Ukrainian News agency earlier reported, the Kyiv Court of Appeal on October 28 considered the appeal of the former owner of PJSC VAB Bank Oleh Bakhmatiuk and upheld the decision of the first instance court to recover UAH 1.221 billion in favor of the National Bank to repay the bank's debt on a stabilization loan.

On January 22, 2025, the Supreme Court confirmed the legality of previous court decisions to recover UAH 1.8 billion of debt from the former owner of Financial Initiative Bank.

The Board of the NBU classified VAB Bank as insolvent on November 20, 2014, and on March 19, 2015, decided to revoke the bank's banking license and liquidate the bank.