Mriya's creditors are already looking for new management for the agricultural holding.
Dream's creditors are completing the process of electing new management for the agricultural holding.
This was stated in a press release from the agricultural holding's creditors' committees.
"Mriya's creditors, represented by two officially established creditor committees that control over 60% of the company's debt, worked actively during the New Year holidays to select a new management team to replace Mriya's current senior management, appointed by the Gut family," the statement noted.
Lenders plan to complete the competition to select Mriya's management by the end of next week.
"Control by the economic owners of Mriya will be exercised both at the level of international holdings, which is already in place at the level of the Gut family holding in the British Virgin Islands (currently controlled by a court-appointed temporary liquidator), and at the operational level in Ukraine," the release noted.
The statement noted that both creditor committees have interviewed six candidate management teams over the past three weeks. These teams include both domestic and international specialists.
"The planned management changes only affect a number of senior positions, with the goal of minimizing any disruption to the business and maximizing reliance on Mriya's existing qualified personnel to ensure business continuity and job security," the creditors note.
They confirm their unwavering commitment to maintaining the integrity of Mriya and strengthening the agricultural holding's position.
At the same time, the report also notes that the creditors' committees are surprised by "the absence of the Gut family in Ukraine and its withdrawal from dialogue with creditors during such a critical period."
"Furthermore, it is incomprehensible that the Gutas completely ignored the committees' proposal of December 16, as well as the subsequent invitation to meet with committee advisers in Kyiv on January 12 to discuss the proper transfer of management of the company," the statement said.
"The creditors prefer to coordinate the transfer of control of the company with the Gutas, but if the Gutas are unwilling to cooperate, the creditors will be forced to continue the process regardless," the creditors emphasize.
They also note that today shareholder control over the Mriya holding company is exercised by a court-appointed temporary liquidator from the British Virgin Islands, and not by the Gut family.
"Third parties in Ukraine should refrain from conducting any transactions involving Mriya's property or existing leases without prior notice and approval from the temporary liquidator. Unauthorized or improperly executed transactions involving the Mriya Group of Companies may be appealed, cancelled, or annulled," the statement concluded.
As is well known, the Mriya Group of Companies found itself in a difficult financial situation: in August 2014, the agricultural holding declared technical default. The company's total debt amounts to $1,3 billion.
Mriya's creditors are represented by two relevant committees, one of which represents the interests of holders of approximately 50% of bonds maturing in 2016 and 2018, and the other the interests of banks (their share of the Group's total debt to banks is 60%).
The above mentioned creditors' committees were formed several months ago in response to the Company's appeal dated August 1, 2014, in which it called on creditors to unite.
As reported, the final meeting of Mechta's creditors and shareholders took place on December 16. Following the meeting, the owners of the Mechta group of companies stated their readiness to hand over the company to the creditors. At the same time, they stated the absence of a constructive, coordinated position among the creditors and warned that events could take a negative turn.
According to the owners, creditors must decide on a scenario for the development of events by the end of 2014 and sign all necessary documents by the end of January 2015.
It was also previously reported that the Eastern Caribbean Supreme Court on December 15 began the liquidation of Mriya's majority shareholder, HF Assets Management Limited.
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