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Events 2020-06-15T06:16:45+03:00
Ukrainian news
Court Holds Hoverla Football Club Bankrupt

Court Holds Hoverla Football Club Bankrupt

sport, football, court, bankrupt, FC, Hoverla, football club

On July 28, the Economic Court of Zakarpattia region held the Hoverla Football Club limited liability company (FC, Uzhhorod) bankrupt.

This is said in court's materials, Ukrainian News Agency reports.

In particular, on July 18, the Economic Court of Zakarpattia region opened a criminal proceedings other the bankruptcy of the Hoverla FC, based on the decision of the company's stockholders on March 1, 2017.

A provisional administrator that was appointed to the club took stock of liabilities worth UAH 6.6 million.

In particular, the liabilities included the payable amount worth UAH 1.9 million (outstanding fee under a labor contract) from one individual, the payable worth USD 177,600 (outstanding fee under a labor contract) from another individual, and the payable worth UAH 10,000 from the State Fiscal Service in Zakarpattia region.

Upon evaluation of the liabilities it was established that the company does not have sufficient funds to meet the obligations before its creditors in full, and that it cannot cover the obligations at the expense of its assets as there are no assets in its possession.

All this considered, on July 18, the court decided to start a bankruptcy procedure against the Goverla FC and imposed a moratorium on payment of creditor's obligations.

As Ukrainian News Agency earlier reported, Ivan Shufrych, Viacheslav Cherepania and Viktor Lytvynenko were ultimate beneficiary owners of the Hoverla FC.

The Hoverla FC stopped to participate in official contest in the 2016/2017 season.

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