Mriya Agroholding owes Prominvestbank $21 million.

mriya agricultural holding

On December 16, the Kyiv Commercial Court began proceedings to recover from Mriya Agroholding LLC and Stach LLC 20 million 964 thousand US dollars and 22,484 million UAH in favor of Prominvestbank.

Mriya Agroholding LLC is in a very difficult financial situation. Its official statement on December 22 stated that the agroholding's owners are prepared to transfer ownership of its shares to a specially created holding company in Cyprus, which will be owned either by the majority of creditors (banks and bondholders) or by their authorized representatives, specifically credit committees.

In response, creditors must demonstrate a “consolidated position in their desire to save the company and sign an agreement to cease aggressive actions against Mriya Agroholding LLC and Stach LLC until the end of restructuring negotiations.”

Otherwise, if the majority of creditors (banks and bondholders) do not begin negotiations and sign agreements by January 31, 2015, the Group's management will have no choice but to resort to "extraordinary measures," including revising the 2015 crop plan and budget in line with the available financing plan; laying off employees in accordance with the revised budget and 2015 crop plan; returning machinery and equipment to leasing companies (more than 70% of the total fleet), etc.

As a reminder, Mriya Agroholding is one of the largest agricultural companies in Ukraine. The Gut family owns 80% of its shares, with the remaining 20% ​​listed on the Frankfurt Stock Exchange as GDRs.

Mriya Agroholding owns 300,000 hectares of land. The company is managed by Ivan Guta, his wife Klavdiya, and their sons Nikolai and Andrey.

It was also previously reported that Mriya Agroholding had received approximately 200 lawsuits seeking debt collection and restructuring. These lawsuits total approximately $1,3 billion. In August, holders of the agroholding's corporate bonds received notice that the company was unable to meet its current obligations. Simultaneously, it was revealed that the holding had issued guarantees to related entities totaling approximately $200 million.

 

 

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