Economy 2024-04-15T05:06:16+03:00
Ukrainian news
American Lender Argentem Creek Partners To Return USD 75 Million Stolen In Ukraine - Media

American Lender Argentem Creek Partners To Return USD 75 Million Stolen In Ukraine - Media

Argentem Creek Partners, GNT Group, Innovatus

Argentem Creek Partners (ACP), a firm specializing in lending, headquartered in the United States in its press release announced the beginning of compulsory refund procedures against the GNT Group, the Censor writes.

According to the press release of the company, the GNT Group operates a grain terminal in the Odesa port.

Argentem Creek Partners claims reasoned suspicions about numerous corporate abuses by the GNT.

In 2019, ACP lent GNT Group USD 75 million and, unfortunately, after three years had to take advantage of the rights provided by security documents and take enforcement legal measures, namely - establish corporate control over GNT Group companies in Cyprus and Ukraine in order to restore the normal course of business operations and introduce transparent business practices, conduct audits and implement clear management, the report says.

According to the company, these measures will contribute to increasing transparency in the Ukrainian economy and in the grain corridor, while at the same time supporting the rule of law and the investment climate at a critical time for the country.

"It was not an easy decision for Argentem. However, due to a significant lack of transparency in management and reporting, we have reason to believe that there was a large-scale corporate offense that harmed the rights and interests of international investors. We believe that these problems will be solved with minimal interference in the grain corridor, and we intend to continue to invest in Ukraine," said ACP regional top manager John Patton.

As a leading investor in GNT Terminals, it was said, ACP refuses to tolerate zero transparency and serious violations in the management of the company. Violation of the fundamental rights of investors not only harms the investment climate of the country, but also creates dangerous obstacles for the operation of the grain corridor at such a difficult time for Ukraine.

The owners of GNT Terminals (better known in Ukraine as Olympex Coupe) are citizens Volodymyr Naumenko and Serhii Hroza.

The publication recalls that a few days earlier another international lender GNT - Innovatus - said that GNT had jeopardized the orderly transportation of grain from the Odesa enterprise.

"GNT's use of war as a means of embezzling funds that do not belong to them is appalling. Unfortunately, this type of corruption is hitting all Ukrainians today," said Ana Firmato, managing director of Innovatus.

Больше новостей о: Argentem Creek Partners GNT Group Innovatus