VAKS took away a Russian’s stake in a strategic enterprise
15 January 01:05
The High Anti-Corruption Court ruled to transfer 25% of the shares of the Kryukiv Railway Car Building Works (KVBZ) to the state. These are corporate rights that belonged to Russian citizen Stanislav Gamzalov. This was reported by the press service of the High Anti-Corruption Court, according to "Komersant Ukrainian".
According to the court’s press service, the panel of judges upheld the claim of the Ministry of Justice of Ukraine and applied the sanction in accordance with paragraph 1-1 of part one of Article 4 of the Law of Ukraine “On Sanctions.”
What assets were confiscated
The sanctions covered 28,669,889 shares of the plant with a nominal value of UAH 21.5 million, which is 25% of the enterprise’s authorized capital.
The VAKS noted that the Russian owner could have exercised actions identical to the exercise of the right of disposal with regard to these shares, which was one of the grounds for applying the sanction mechanism.
Who initiated the seizure
The lawsuit was filed by the Ministry of Justice of Ukraine, which insisted on the confiscation of assets within the framework of the state’s sanctions policy against persons associated with the Russian Federation.
Why this particular asset
The Ministry of Justice claims that Gamzalov owns a number of companies in Russia that provide material and technical support to the Russian Federation in its war against Ukraine. In particular, this involves the supply of goods to companies involved in Russia’s military-industrial complex.
It is this connection with supplying the Russian war machine that is the basis for the state’s appeal to the court to confiscate assets on the territory of Ukraine.
Who else owns the plant
According to the YouControl analytical system, the beneficiaries of the Kryukiv Railway Car Building Works include:
- Stanislav Gamzalov (Russian Federation),
- Volodymyr Prykhodko,
- Natalia Prykhodko.
The enterprise specializes in the production of freight and passenger cars and is strategically important for the Ukrainian economy and transport industry.
What is known about the Kryukiv Railway Car Building Works
The Kryukiv Railway Car Building Works is one of the largest and oldest machine-building enterprises in Ukraine, specializing in the production of rolling stock and other transport equipment.
The enterprise:
- is of strategic importance to the economy and security of Ukraine;
- is located in Kremenchuk, Poltava region;
- is included in the list of strategic state facilities.
Previous decisions regarding KVBZ assets
In May 2022, law enforcement agencies uncovered a scheme to transfer funds from the plant to the accounts of companies associated with the Russian Federation.
In July of the same year, the Holosiivskyi District Court of Kyiv transferred a share in the authorized capital of KVBZ to the management of ARMA, the Asset Recovery and Management Agency.
