Serhiy Kurchenko is unable to find the funds to repay a 200 million hryvnia loan from the state-owned Ukreximbank. Having repaid almost the entire debt to Ukreximbank, Kurchenko's company, Vetek Media Invest, still owes the financial institution 200 million hryvnias for loan servicing. The fugitive oligarch's entire media business serves as collateral for this loan, according to HUBS.UA.
It is known that the young oligarch's company took out a loan from Ukreximbank to acquire shares in UMH Group. It was with the loan that Kurchenko paid off media mogul Boris Lozhkin in the fall of 2013. However, after receiving the funds, Ukreximbank charged the oligarch's media holding millions in debt for its services. UMH Group is attempting to challenge this debt in court, but has so far been unsuccessful.
As a reminder, UMH Group includes more than 50 brands, including the Ukrainian versions of Vogue and Forbes magazines, Focus, Korrespondent, and AiF publications, Retro FM radio, Europa Plus, Avtoradio, Nashe Radio, and Radio Alla, among others.
SKELET-info
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