Ukrlandfarming closes companies due to long-lasting conflict with the Ukrainian authorities
Over the past 18 months, UkrLandFarming was forced to close down 29 farms and 8 companies of the group, putting 13.000 Ukrainians out of job because of the pressure from the head of Ukrainian National Anti-Corruption Bureau.
This is stated in the press-release circulated by the company on January 21, 2021. The press-release also contains the list of farms which were closed.
With 10.5 million layers, Ukraine's Avangardco, the subsidiary of UkrLandFarming, is Europe's biggest egg producer, producing both shell eggs, and egg products.
Back in 2019, the Office of the Prosecutor-General of Ukraine and the National Anti-Corruption Bureau of Ukraine (NABU) reopened the investigation of the case against VAB Bank, which used to belong to Oleh Bahmatyuk, and accused him of inappropriate use of a 21,6 bn. UAH stabilization loan from the National Bank of Ukraine issued in 2014. These proceedings heavily affected Bahmatyuk’s agricultural business - UkrLandFarming and Avangard.
Earlier, Bakhmatyuk informed Interfax-Ukraine that he rejected all allegations and offered the Deposit Guarantee Fund to gradually repay UAH 8 billion in debt: a UAH 500 million guarantee deposit and UAH 1 billion annually. In his opinion, this case was fabricated, and one of its goals is to disrupt the agreements with creditors. The businessman appealed to the President Volodymyr Zelensky to intervene in the situation.
Source: https://ua.interfax.com.ua/news/economic/717749.html
