Odessa businessmen Sergei Groza and Vladimir Naumenko with the help of the Bank "Pivdenniy" illegally reissued half of the grain terminal "Olympex" in 2023. UNN decided to understand how delkam managed to twice pledge corporate rights to half of the grain terminal.
In November 2019, GNT Group agroholding received a $75 million loan from an American investment fund for the development of the Olympex terminal. Groza and Naumenko transferred half of the grain terminal to the fund as collateral for the loan. The businessmen had to repay the loan by December 5, 2021.
However, after Groza and Naumenko received the American money, force majeure circumstances came, to put it mildly. First, the world was gripped by a coronavirus epidemic, and then Russia's large-scale invasion of Ukraine began. Understandably, these two factors affected doing business in Ukraine - many found themselves in a difficult position. However, like other investors, the U.S. fund went to meet Ukrainians and postponed debt repayment several times. Moreover, Groza and Naumenko convinced their American partners of their willingness and readiness to repay the money every time the loan repayment deadline approached.
While the Americans piously believed in the honesty of Groza and Naumenko, the latter, behind their partners' backs, decided to pull off a scheme that they were sure would allow them not to pay their bills.
Is it worth reminding that after the Odessa businessmen signed the agreement, they had to coordinate their every step with the lender?
So, a couple of months after receiving an investment loan from the fund, Groza and Naumenko decided to take a loan from a Ukrainian bank as well and thus secure their property from the claims of the American creditor. In 2020, with the help of LLC "Ferko" and LLC "Vtormeteksport", which are part of the agricultural holding GNT Group of Groza and Naumenko, they received $ 17.5 million loan in the bank "Pivdenniy". And yes, the loan was secured by the same half-terminal, the rights to which were already held by the Americans.
According to the legislation, before granting a loan Pivdennyi had to check the rights to the property that was pledged as collateral.
Ukrainian legislation clearly establishes the obligation of banks to perform due diligence of the property pledged as collateral. This includes verification of any other encumbrances or liens registered in the State Register of Rights to Immovable Property. However, in practice there may be situations when this check is not properly performed. The actions of a bank that accepts as collateral a property already encumbered by another lien without proper verification and the consent of the previous lender are illegal and may be appealed in court. Banks are obliged to comply with legal requirements for the verification of collateralized property and to take all necessary measures to prevent fraud
A lawyer gave some examples of how else property can be abused other than double bail.
For example, fictitious property transactions may be conducted.
Disadvantaged businessmen may use schemes where property is resold between affiliated companies under the guise of loan recovery. For example, company A extends a loan to company B against property that is already pledged to company C. In the event of default, company A "collects" the property, but in fact it remains under the control of company B's owners through a new firm
Ignoring court decisions is another abuse. According to the lawyer, if there is a court decision prohibiting the alienation of property, but the bank still carries out foreclosure and resale, this may be a sign of collusion with the owner of the property. Such actions violate the law and may lead to criminal liability for fraud.
So it begs the question, how come half of Olympex was mortgaged twice and sold with an injunction in place?
The answer to this question is obviously very simple. Groza and Naumenko have a long-standing friendly relationship with Vadim Morokhovsky, a member of the Odessa local council and head of the Servant of the People faction. Now he is also the head of the board of Vostok Bank, which also gave the businessmen no less strange loan, but more about that later.
Morokhovskyi used to head the board of Pivdenniy Bank and retained his influence in the financial institution after he left to join Vostok Bank. It was thanks to him that Groza and Naumenko were able to pull off the scheme and get a loan against twice pledged property.
But the story doesn't end there. In addition to issuing the loan, Morokhovskyi also most likely facilitated Groza and Naumenko in the future. Otherwise, how else can one explain the fact that in early 2023 Bank Pivdennyi started urgently demanding repayment of the loan, which was due to expire on July 31, 2024?
Groza and Naumenko's companies received the Ukrainian bank's demand to repay the debt in January 2023 and had 30 days to fulfill it. But Pivdenniy started the foreclosure procedure without waiting for the expiration of this term, which is a violation of the law "On Mortgage".
It should be noted that the bankruptcy court prohibited the alienation of the terminal's property even before the foreclosure process started. In addition, all of the terminal's property was under arrest as part of the criminal case against Groza and Naumenko. But this did not prevent private notary Dmitrova T. from re-registering the title to the property. re-register the title to the property.
Thus, Pivdenniy sold half of the Olympex grain terminal for only 4.3 million dollars to Sanolta Feed (Sunolta Group). In 2020, the terminal's value was estimated at a minimum of 300 million dollars.
To further confuse American creditors and Ukrainian justice, Groza and Naumenko resold the property once again to Attollo Granum, which is also part of the Sunolta group. This company was specifically set up for the purchase a few weeks before the transaction.
The last step of the intricate scheme was the transfer of the property received by Attollo Granum to pledge 130.8 thousand dollars of mortgage to Ozirki LLC controlled by Groza and Naumenko.
That is, the businessmen, with the help of their old banker acquaintance, managed to mortgage the Olympex terminal three times. But Morokhovsky's help to Groza and Naumenko did not end there either. About how Morokhovsky helped to illegally sell "Sukhoi Port", read in the next material..
More details about the conflict around the grain terminal "Olympex" can be read in the material: "Company Groza and Naumenko GNT Group blocked the work of the grain terminal in Odessa. Detailed chronology of the conflict."