Kolomoisky and Bogolyubov have started to question the taking away of shares of Ukrnafta and Ukrtanafta
Igor Kolomoisky's companies and Gennady Bogolyubov have initiated legal proceedings against the state's seizure of their shares in Ukrnafta and Ukrtatnafta. This information is documented in the court register, as reported by LIGA.
In early December, the Cypriot company Littop Enterprises Limited filed a lawsuit to have its seized Ukrnafta shares returned.
The company's claim, received by the Kyiv Economic Court on December 8, included 18 points, one of which was a request to regain 13.6% of Ukrnafta's shares from state ownership for Littop Enterprises, and to void all the decisions made at the company's shareholder meetings on November 7 and 9, 2022.
The company indicated that it does not oppose the temporary seizure of Ukranfta's property for defense purposes, but it does require proof of ownership of Ukrnafta shares. As an alternative, it suggested considering the option of providing Ukrnafta with mobilization tasks.
The court has not yet examined Littop Enterprises' claim and has returned it.
The court explained that the company combined three claims into one statement (regarding the return of shares, the annulment of decisions made at shareholder meetings, and the cancellation of registration actions in the state register), which were not connected in terms of reasons or evidence presented.
According to Minister of Justice Denys Malyuska, the beneficiaries of Littop Enterprises Limited (as well as two other shareholders of Ukrnafta – Bordo Management Limited and Bridgemont Ventures Limited) are Igor Kolomoisky, Gennady Bogolyubov.
Ukrnafta is the largest oil producer in Ukraine. The company owns about 2,000 oil and gas wells. It also owns a network of 537 gas stations.
The company has three groups of shareholders: the state NJSC Naftogaz of Ukraine (owns 50% + share), the informal Privat group of Igor Kolomoisky and Gennady Bogolyubov (through a number of offshore companies — 42% of shares), minority shareholders.
The Privat group of Kolomoisky-Bogolyubov has been credited with controlling Ukrnafta since 2003.
Another Cypriot company, Ralix Services Ltd, also filed a similar lawsuit, but regarding a 7.67% stake in Ukrtatnafta.
It also requested the return of Ukrtatnafta shares from state ownership and the annulment of all decisions from the extraordinary general meeting of the company held on November 7.
Ralix Services' application was rejected for the same reason – the combination of three claims in one lawsuit.
Ukrtatnafta is the largest oil refinery in Ukraine, located in Kremenchug. More than 50% of Ukrtatnafta is owned by offshore companies of Igor Kolomoisky, Gennady Bogolyubov and Alexander Yaroslavsky. Another 43% of the plant's shares are owned by NJSC Naftogaz of Ukraine.
In 2021, the company supplied about 40% of gasoline and 14% of diesel to the Ukrainian market. The design capacity of the plant is 18.6 million tons of fuel per year. In September of this year, the plant ranked fourth among Ukrainian companies most affected by Russian shelling.
According to the Kyiv School of Economics (KSE), Ukrtatnafta’s losses from hostilities amount to $400 million. more than 40 missiles, it has not been working since March.
- In November, Ukrnafta and Ukrtatnafta, along with three other strategic enterprises in Ukraine – AvtoKrAZ, Motor Sich, and Zaporizhtransformator – came under the control of the Ministry of Defense.
- Following this, Sergey Koretsky, the former CEO of the WOG filling station network, became the head of Ukrnafta and Ukrtatnafta. The general meeting of Ukrnafta shareholders completely dismissed the company's board and left Koretsky as its sole director.
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