Mriya Says Raiders Linked to Former Owners Selling Stolen Assets

Mriya Agro Holding Plc said that a group linked to the founding Guta family raided its facilities in recent days and is selling stolen property, according to a statement on its website.

The group took more than 40 pieces of farm equipment after an appeals court in Kiev removed an order freezing assets valued at about $3 million, the company said. Local police didn’t intervene and a company representative who tried to obstruct the raid was beaten up, according to the statement.

“If the equipment leaves the territory of Ukraine, it will be impossible to return it,” Mriya said in the statement.

The move escalates a feud between creditors and former shareholders over the fate of one of Ukraine’s biggest agricultural operations. Creditors including banks BNP Paribas SA, Credit Agricole SA and UniCredit SpA took over Mriya last year and are trying to recover assets they say the former shareholders sold illegally, people familiar with the matter said last month.

Calls and e-mails to former Chief Executive Officer Mykola Guta and his brother Andriy weren’t answered.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE