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Court decides to remove seizure from Ocean Plaza shopping center, from accounts of its owner company
KYIV. Aug 12 (Interfax-Ukraine) – The Pechersky District Court of Kyiv has decided to cancel the previously imposed seizure on the building of the Ocean Plaza shopping center (Kyiv) and on the funds on the accounts of its owner, IS Lybid LLC.
According to a court decision dated August 2, the seizure regarding the ban on use is removed from the Ocean Olaza shopping and entertainment center, three land plots and several apartments owned by IS Lybid LLC.
The court took into account that the seizure of the shopping and entertainment center is excessively burdensome, as it interferes with the economic activity of the company. At the same time, the company has more than 350 tenants and 7,000 employees, and its activities ensure that the budgets of different levels receive about UAH 3 billion per year.
At the same time, the seizure is removed from the accounts of the company, with the exception of debit transactions for payments outside Ukraine, payment of dividends to citizens and legal entities of foreign states, payments to accounts opened in foreign banks, and accounts of nonresidents of Ukraine.
Earlier, within the framework of criminal proceedings, the seized corporate rights of companies for more than UAH 350 million were transferred to the management of Asset Recovery and Management Agency (ARMA). As Interfax-Ukraine was told at the time by a source in law enforcement agencies, it was the Ocean Plaza mall in Kyiv.
The Ocean Plaza shopping center at 176, Antonovycha Street in Kyiv with a total area of 165,000 square meters was opened in December 2012. Investments in it amounted to about $300 million. UDP and K.A.N. Development LLC acted as partners in the development of the project.
The mall was sold to Russia’s TPS-Nedvizhimost Arkady Rotenberg in 2012. Later in 2019, businessman Vasyl Khmelnytsky indirectly acquired a 33.5% stake in the Ocean Plaza shopping center through UPD Holdings Limited. In 2021, he sold his stake to entrepreneur Andriy Ivanov, but the deal has not yet been completed.
