The AVK confectionery factory (Dnipro) was sold on September 15 through the OpenMarket electronic trading system – SETAM for debts, and its owner became the Kyiv-based Ilaris LLC, according to the auction website.
According to the SETAM website, the auction included the factory premises with an area of 37,847 thousand square meters worth UAH 92 million, two diesel locomotives with three cars, and 14 loaders. The starting price was UAH 1,262,639,922.64.
Eight participants took part in the auction. Four bids were rejected at the start due to non-payment of the guarantee deposit.
Ilaris LLC won the auction with a bid of UAH 50.004 million for the lot.
Ilaris was registered on August 4, 2025. It specializes in the rental of real estate. Its authorized capital is UAH 50. The company employs one person. The ultimate beneficiary is Marina Rytska. She also owns 18 companies specializing in the rental and operation of owned or leased real estate.
As reported, the decision in case No. 905/2852/16 on the bankruptcy of PJSC “AVK,” adopted on July 8 by the Commercial Court of Donetsk Region, was published in the Unified State Register of Court Decisions on July 12, 2021. The regional commercial court, composed of Judge Maxim Leiba, considered in open court the case materials on the application of the creditor LLC “Rustok” (Donetsk) to the debtor – PJSC ‘AVK’ with the participation of representatives of creditors JSC “Oschadbank”, Prominvestbank PJSC, and Raiffeisen Bank Aval JSC.
Based on the results of an analysis of the financial and economic condition of the enterprise conducted in 2020, the court established that the level of solvency loss of AVK over the past three years excludes the possibility of applying the reorganization procedure to the debtor. The debtor’s financial and economic condition is characterized by supercritical insolvency, and therefore, creditors’ claims can only be satisfied through liquidation proceedings.
The Commercial Court then clarified that the ruling would take effect on July 8, 2021, and could be appealed in the Eastern Commercial Court of Appeal through the Commercial Court of Donetsk Region by filing an appeal.
By a decision dated October 20, 2016, the Commercial Court of Donetsk Region opened bankruptcy proceedings against AVK at the request of Rustok LLC (Donetsk) and initiated the procedure for disposing of the debtor’s property for a period of 115 calendar days.
After the announcement of bankruptcy was published in October 2016, the following entities filed monetary claims with the court for a total amount of UAH 2.2 billion: PIB – UAH 1.9 billion, VBR – UAH 638.8 million, Raiffeisen Bank Aval – UAH 521.9 million, and Oschadbank – UAH 5.1 thousand.
The Commercial Court of Donetsk Region repeatedly postponed the consideration of the AVK bankruptcy case, in particular due to economic expert examinations, and also closed the case in connection with the filing of appeals by AVK and Oschadbank to the Higher Commercial Court, which were rejected in May 2017 and July 2018, respectively.
AVK is one of the largest confectionery manufacturers in Ukraine, founded in 1991. AVK is owned by Volodymyr Avramenko and Valery Kravets. It includes a confectionery factory in Dnipro. It also owned factories in Donetsk and Luhansk, control over which has been lost.
AVK produces a wide range of products: chocolate, caramel products, cookies, waffles, croissants, and salty snacks. The company exports its products to more than 60 countries around the world.
The ultimate owners of AVK are Valery Kravets and Vladimir Avramenko, who currently reside in the Kyiv region. Avramenko was a member of the Ukrainian parliament from the Donetsk region from 2002 to 2006. Kravets served as Minister of Agrarian Policy and Food of the Autonomous Republic of Crimea from November 2010 to April 2013. The co-owners of AVK Confectionery are Volodymyr Avramenko and members of his family.
Prominvestbank belonged to the Russian state-owned company VEB.RF (formerly Vnesheconombank). In 2022, Prominvestbank in Ukraine was nationalized and removed from the market. Accordingly, the proceeds from the sale of property in Dnipro will be received by the Deposit Guarantee Fund (DGF), which manages the bank in liquidation. The funds will be used to settle with the creditors of Prominvestbank, which was operating at a loss.
