On April 10, the Ministry of Justice canceled registration actions in the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Organizations of Ukraine regarding changes in the ultimate beneficial owners of the companies Smart-Holding LLC, Ukrgazvydobutok PrJSC, and Regal Petroleum Corporation (Ukraine) Limited LLC.
This is stated in the message of the Smart-Holding group with reference to the statement of the new beneficiaries, Ukrainian News Agency reports.
According to the report, the owners of the trusts were unilaterally excluded from the register of legal entities, and Vadim Novinsky was reinstated as the ultimate beneficial owner of these companies.
"We, as the new owners of Smart Holding, believe that our rights have been grossly violated by the above-mentioned decision, since both trusts are legally binding agreements governed by the laws of Cyprus and created before the imposition of sanctions on Novinsky. After the transfer of ownership rights to Smart Trust and Step Trust, Novinsky does not exercise any control or ownership over the assets of Smart Holding, as he is no longer the beneficial owner of the companies, nor does he control any decisions regarding the trusts or their assets. So, we consider our exclusion from the register of legal entities as an action that deprives us of the opportunity not only to exercise our legal rights to the assets of the trusts, but also directly to our property," the message reads.
As Ukrainian News Agency earlier reported, in November 2022, former Member of Parliament, businessman Vadim Novinsky signed an agreement to transfer the assets of his Smart Holding group to a trust.
In December 2022, the National Security and Defense Council introduced sanctions against the Vicar of the Kyiv-Pechersk Lavra of the UOC MP Pavlo (Lebid), other representatives of the UOC, and Novinsky.
Smart-holding controls a number of mining and metallurgical and oil and gas complex enterprises, agriculture, shipbuilding and real estate.
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