Recovery of the seized Belarusian funds to LLC "BNK-Ukraine" is fully in the national interest as it satisfied Ukrainian creditors.
This is the main result for the state. On September 27, 2024, during a meeting of the ARMA working group, a decision was made to return the funds to Ukrainian enterprises - creditors of the Belarusian oil supply company.
ARMA manages seized monetary assets by placing funds on deposit accounts with state-owned banks and purchasing Military Bonds in an amount not exceeding 80% of the funds on the agency's deposit accounts in the relevant currency. In 2024, the ARMA initiated amendments to the Law enabling the purchase of war bonds denominated in foreign currency (US dollar and euro), which entered into force in May 2024.
Thus, based on the Resolution of the Podil District Prosecutor's Office of Kyiv dated 12.04.2022, the funds held in the bank accounts of LLC "BNK-Ukraine" in the amount of 455 thousand EUR were seized. According to the decision of the Podilskyi District Court of Kyiv dated 10.06.2022 in case No. 758/41/13/22, the above funds were transferred to the management of the ARMA.
LLC "BNK-Ukraine", the beneficial owners of which were CJSC "Biloruska Naftova Kompania" and the Republican Unitary Enterprise "VO Belorusneft" (country of residence - the Republic of Belarus), was a supplier of Belarusian oil products in Ukraine before the beginning of the armed aggression of the russian federation.
By the decision of the Economic Court of Lviv region of 02.11.2022, bankruptcy proceedings were opened against LLC BNK-Ukraine. Subsequently, by the Resolution of the Economic Court of Lviv Region of 24.05.2023, BNK-Ukraine LLC was declared bankrupt, liquidation proceedings were opened and a liquidator was appointed:
- the powers (corporate rights) of the Company's shareholders (owners) to manage the Company and dispose of its property ceased (the shareholders (owners) lost decisive influence on the Company's activities (control over the Company)
- the powers of the Company's CEO appointed by the shareholders (owners), who is subject to dismissal in connection with the Company's bankruptcy, have ceased.
Instead, the functions of managing and disposing of the bankrupt's property are performed by the liquidator, who by virtue of the provisions of the Bankruptcy Code of Ukraine, is independent and acts in the interests of the Company's creditors, which are exclusively legal entities and individuals - residents of Ukraine.
In connection with the cancellation of the seizure of funds, on September 27, 2024, the ARMA decided to return 456 thousand EUR, equivalent to 21 million UAH, to the bankruptcy liquidation account, which will be used to pay off BNK-Ukraine LLC's creditors to Ukrainian enterprises - taxpayers to the budget of Ukraine, including OKKO, SOKAR, AMIK-Ukraine and other petrochemical enterprises of Ukraine.
The decisive factor is that the bankrupt LLC "BNK-Ukraine" debt to Ukrainian petrochemical enterprises exceeds 1 billion UAH, which is confirmed by the approved creditor claims.
Thus, as of today, the funds have already been returned for further satisfaction of the claims of Ukrainian creditor companies. The payment is already being processed by the financial institution.
Thus, ARMA once again confirms its effectiveness and impartiality in managing seized assets and acts solely in the interests of the state and Ukrainian business.
In August 2024, the ARMA returned seized funds in the amount of almost 244 million UAH to LLC "Aeroc", which was nationalized and owned by the state represented by the State Property Fund of Ukraine.
The amount of accrued interest for the period of the Agency's management of the seized funds of LLC "Aeroc" is more than 47 million UAH, which will be used to restore economic activity, pay wages and taxes.
Effective management of seized assets, increase of revenues to the budget of Ukraine and financial support of the Ukrainian Defense Forces through the purchase of War Bonds are a priority component of ARMA's activities.
