Developer from Ivano-Frankivsk Andrey Lutsky invested $7 million and became the owner of LAZ

Developer from Ivano-Frankivsk Andrey Lutsky invested $7 million and became the owner of LAZ

The new owner of the Lviv Bus Plant, having invested $7 million, became Lvovinvesttaktiv LLC, part of the Lutsky family group from Ivano-Frankivsk, which owns the Blago construction company.

Andrey Lutsky is a co-owner of the construction company "Blago", which is one of the largest in Ivano-Frankivsk. Founded in 2007, Blago Company LLC has two beneficiaries - Andrey Lutsky and Ivan Krikhovetsky. In addition to the construction business, the partners conduct scientific and teaching activities at the Ivano-Frankivsk private University of King Daniel, founded by Lutsky’s father.

LLC "Lvovininvesttaktiv" with an authorized capital of 1,000 UAH was created in February 2023, its only beneficial owner is the corporate investment fund "HAIF" of Andrey Lutsky with a size of 130 million UAH.

During the period from July 1, 2023 to October 27, 2023, the investor, who poured UAH 82 million into the company, managed to repay all LAZ debts recognized by the court in the amount of UAH 178.65 million (including UAH 86.8 million to Ukreximbank). After this, in December 2023, Lvovinvestactiv became the majority owner of LAZ, its share amounted to 57.58%.

After repaying the debts and changing the owner, the courts in Kyiv and Lvov lifted the arrest from the LAZ property:

On February 23, the Lychakivsky District Court of Lviv canceled the arrest of the LAZ foundry on the street. Stryiskaya, 45, in the case of the State Fiscal Service;
On March 5, the Pechersky District Court of Kyiv canceled the arrest of 30 LAZ properties on the street. Stryiskaya, 45, in the case of the State Tax Service.
Further, according to the reorganization plan, a new legal entity must be created, the authorized capital of which will include LAZ real estate and additional money from Lvoinvestactive, necessary to pay off LAZ debts, which became known during the reorganization process.

Let us recall that the Lvov Bus Plant (LAZ) was privatized in 2001; more than 70% of the company’s shares were bought by Sil-Avto LLC, associated with Russian Igor Churkin. After privatization, the plant began to decline: massive layoffs, salary delays, and subsequently the sale of property began. The plant continued to operate, but significantly reduced production scale.

Due to a conflict with local authorities, Churkin was going to move production from Lviv to the Dnepropetrovsk region, and in October 2014 LAZ finally stopped. In 2015, the prosecutor's office of the Lviv region opened criminal proceedings into the illegal seizure of LAZ property, and initiatives to nationalize the plant appeared in the Verkhovna Rada.

Since 2020, Lviv Bus Plants LLC, reregistered in Kamensky, has been in a state of bankruptcy.

The situation changed in April 2023, when the Economic Court of the Dnipropetrovsk region approved the LAZ reorganization plan. It provided for the attraction of a new investor, Lvivinvestactive LLC, and the exclusion from the list of owners of two liquidated companies that had no legal successors - City Transport Construction Investments LTD (owned a share of 33.33%) and Eurotruck Technologies Limited (with a share of 33.33%). %).

Two criminal cases are being investigated against Churkin in Ukraine. In 2022, Churkin was informed of suspicion of deceiving the police in order to block the sale of the property of a bankrupt plant. In 2023, Churkin received a second suspicion - he was accused of misappropriating the property of ZAO Municipal Transport Plant (formerly OJSC Lviv Automobile Plant) in the amount of more than UAH 367 million.

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