Oschadbank has put up for sale at auction the right to claim under loan agreements and relevant security agreements to borrowers of Oleg Bakhmatyuk’s Ukrlandfarming group of companies at a starting price of UAH 4,984,663,467.30 (excluding VAT), the bank’s press service reports.
According to the report, the property of Rise-Maximco PJSC, Avangard Agroholding PJSC, Impevo Foods LLC, and Pacco Holding LLC is up for auction.
These loans are secured by production assets throughout Ukraine, including elevators, poultry farms, an egg processing plant, etc., as well as guarantees from individuals and legal entities.
The auction is scheduled for April 14, 2025.
“Ukrlandfarming is one of the largest agricultural holdings in Eurasia. It is engaged in grain growing, cattle breeding, distribution of machinery, fertilizers and seeds.
“UkrLandFarming remains one of the largest agricultural holdings in Ukraine, despite $1.2 billion in losses from Russia’s military aggression against Ukraine. In particular, we are talking about the largest poultry farm in Europe, Chornobaivska (Kherson region), where 4.5 million poultry were killed, property and communications were destroyed, and the occupiers took the equipment to the territory of the Russian Federation. The enemy also destroyed a number of poultry farms in other regions: poultry farms in Mykolaiv region, Donetsk region (Donetsk poultry farm, as well as in Volnovakha and Bakhmut), and poultry farms in Kyiv region were destroyed, looted or significantly damaged by shelling. The company lost 160,000 hectares of arable land for agricultural production, and regional bases and elevators in Kherson, Mykolaiv, Donetsk, Luhansk, Zaporizhzhia, and Kharkiv regions, as well as in Kyiv region and near Kyiv, were destroyed and looted.
A significant portion of ULF’s financial obligations have been in default since 2017. In November 2017, a group of international creditors, Ukrlandfarming and Avangard, in a letter to the Ukrainian government, estimated the total amount of ULF’s debt obligations at approximately $1.65 billion: about $1.25 billion of debt obligations to international creditors and about $400 million to Ukrainian banks (including state-owned banks). In turn, the debt to international creditors, according to their data, amounted to approximately $775 million in the form of Eurobonds and $475 million in the form of loans to European and American banks (and their respective credit risk insurers).
