Ulmart’s coowner Dmitry Kostygin’s assets seized in Cyprus in VTB case
The bank assumed that major portfolios of shares of Dikaya Orkhideya and Rive Gauche retailers were hidden from creditors. Kostygin managed to pass them on to his business partner’s spouse.
The major portfolios of shares of Dikaya Orkhideya and Rive Gauche retailers have been seized in Cyprus following the VTB bank’s claim, reports Kommersant daily with reference to its sources. The district court determined that the portfolios of shares belonged to Dmitry Kostygin who is under investigation in the case on swindling in the field of credit financing (item 4 of article 159.1 of the Criminal Code of the Russian Federation).
The VTB media office confirmed that Kostygin’s assets “were seized following the claim related to a plot with intent to defraud creditors”, reports RBС. “We are intent on seeking repayment of a debt at every possible way, in keeping with the law.” The media office pointed out.
According to the court July, 2017 decision, Kostygin ought to return 650 million rubles ($9.9 million) to VTB as a loan guarantor. His Saint-Tropez villa and Ulmart’s portfolio of shares have already been seized within the case. However, the bank went on searching for the businessman’s assets.
In particular, VTB found out that, in November, 2017, Kostygin’s Koshigi Limited company passed on 75% of shares of a Cyprus-based Kohuhu Enterprises Limited to his business partner’s spouse - Inna Mayer. The Kohuhu Enterprises Limited company owns a portfolio of shares of Dikaya Orkhideya retailer chain. Mayer also received 51% of shares of a Cyprus-based Polnamon Trading & Investments Limited holding company that is a part of Rive Gauche Group.
The bank determined that the assets were passed on with a purpose of hiding from seizure. On Ocrober 10, VTB filed a lawsuit with Kostygin and Mayer being defendants in the case.
Dmitry Kostygin is accused of swindling in the field of credit financing (item 4 of article 159.1 of the Criminal Code of the Russian Federation). The investigation theory is that being Ulmart’s Vice-President of the Board of Directors, on March, 2016, he made an arrangement with Sberbank to open a revolving line of credit worth of 1 billion rubles ($15.2 million). The investigators believe that he provided false information as to the holding’s state - without wishing to abide by the terms of the agreement.
In early September, 2018, Mikhail Skigin, a co-owner of a St.Petersburg-based oil terminal, filed a suit for Ulmart’s holding company’s bankruptcy. In June, 2016, Skigin’s company provided a $35 million loan to the holding, however in spring, 2017, filed a suit for nonpayment.
The General Director of Research and Production Complex (NPK) Dedal was detained when transferring the first part of the bribe in the amount of 2.5 million rubles ($37.9 thousand) in one of Simferopol restaurants.