Court rules to seize corporate rights of Brocard Ukraine

Court rules to seize corporate rights of Brocard Ukraine

Сourt arrests corporate rights to Brocard chain of perfumery stores as part of criminal proceedings on financing of Russian agression

The Podilsky District Court of Kyiv ruled to seize the property of Brocard Ukraine LLC as part of criminal proceedings.

The corresponding decision was made on May 18, 2022, however, on June 20, the seizure was partially lifted at the company's request, according to the decision published in the Unified State Register of Court Decisions.

Thus, the ban on changing the director, the location of a legal entity, changing the statutory documents, except for the composition of participants, the size of their shares in the charter capital and changing its volume, has been lifted.

According to the document, criminal proceedings against Brocard Ukraine LLC are carried out under Part 5 of Article 191 (appropriation, embezzlement of property or taking possession of it by abuse of official position), Part 2 of Article 110-2 (financing of actions committed with the aim of forcibly changing or overthrowing the constitutional order or seizing state power) of the Criminal Code of Ukraine.

As reported, the French perfume holding Philippe Benacin Holding acquired the companies-owners of the Ukrainian chain of stores Brocard, as notified by the Antimonopoly Committee of Ukraine. At the same time, the AMCU has not yet made a decision on the need to obtain a concentration permit.

By the beginning of 2022, the Brocard chain consisted of about 100 stores in 26 cities of Ukraine. The company's staff was 1,800 people. According to the company, the total chain turnover amounted to UAH 4.126 billion in 2020.

Since 2010, Brocard Ukraine has been owned by an offshore Cypriot holding with Russian owners, and the ultimate beneficiary of the Brocard Ukraine companies has been Tatiana Volodina, the owner of the Russian chain L'Etoile.

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