The State Export-Import Bank of Ukraine intends to recover UAH 192,14 million from Korrespondent LLC, which acted as guarantor for a loan to Vetek Media Invest LLC, according to Nashi Groshi.
The credit line was opened on October 28, 2013, for $166 million. The loan was due on October 27, 2022, but the borrower defaulted.
One of the reasons for this is the fact that a third of the collateral was secured by securities that expired in 2014. Because of this, the bank demanded early repayment of the loan, as Vetek Media Invest did not offer replacement securities. Korrespondent LLC became the guarantor in November 2013.
Similarly, the bank recovered the same amount from Prime-Time LLC on December 14, 2013. This company became another guarantor for Vetek Media Invest. Last June, another guarantor, Ukrpoligrafmedia LLC, recovered 192,14 million hryvnias.
All court decisions were in favor of the bank, but it is still unclear whether the amount was paid.
It's worth noting that Vetek Media Invest is owned by Serhiy Kurchenko. In 2013, the company acquired Ukrainian Media Holding from Boris Lozhkin. It is believed that the aforementioned loan was used to pay for the acquisition.
The Korrespondent company is owned by Sun Media and Ukrainian Media Holding, while Sun Media itself is owned by the offshore company Qwerty Business Inc. (British Virgin Islands) and United Media Holding (Netherlands). These same companies also own Prime Time.
The beneficiary of both companies is listed as a certain Bradley Matthew Adrian.
SKELET-info
Subscribe to our channels in Telegram, Facebook, Twitter, VC — Only new faces from the section CRYPT!