Ukreximbank wins UAH 810mln in court  against Ukrtelecom

Ukreximbank wins UAH 810mln in court against Ukrtelecom

State owned banks claim for funds channeled to ESU company which partially paid the acquisition of domestic telecommunication and fixed line major Ukrtelecom

The court granted claim against owners of Ukrtelecom to recompense UAH 810mln in arrears.  ESU company failed to pay its obligation for coupon yields on bonds which Ukreximbank purchased at nominal face value of UAH 2.2bn. 

To remind, in 2011 the government sold Ukrtelecom to ESU company. The company paid UAH 10.57bn for 92.72% stake. Later it has become known that ESU issued UAH 4.2bn bonds and state-owned Oschadbank and Ukreximbank bought them during a closed placement.

After that Ukrtelecom took obligation to buy the bonds back and pay on coupon yields. 

As a matter of fact, Oschadbank made claims in courts too. 

At this, the final decision is yet to come, as ESU submitted the appeal on the court decision for Ukrexim. 

(photo from

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