BNY Mellon Corporate Trustee Services Limited acted in the interest of all bondholders and won the claim in Ternopil court. The claim concerns Eurobonds placed in 2011 and 2013 against 68 companies belonging to Mriya Agro Holding. The amount of about UAH 15bn comprise the principal amount and interests past due since August 2014. It is for the first time that foreign investors filed a claim in Ukrainian court to collect debts. It can be considered as a test case when Ukrainian judiciary system protected the rights of the foreign investors, told Mriya CEO Simon Chernyavsky. The CEO acknowledges the debt acquired from the previous management and former shareholders. To remind, Mriya Agro Holding entered in default on Eurobonds in 2014. Total amount of debts including guarantees and warrants issued by the companies associated with the Hut family (former shareholders) amount to USD 1.3bn, at the time of the default. Claimholders, mainly from the EU and the USA, took control over the holding and decided to run it. In February 2015, new management took the positions in the agro holding. In September, the committees of the joint creditors and bondholders decided upon restructuring of the past due debts amounting to USD 1.1bn, as of present.
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