The situation at the Kharkiv Tractor Plant (KTP), blocked due to seizure of property and accounts, began to stabilize, announced owner and president of the DCH Group Alexander Yaroslavsky, who owns a controlling stake KTP.
“In recent days, the situation began to stabilize. Firstly, we managed to find common language with creditors: “Yesterday was a meeting that gave the “green light” to the enterprise’s reorganization. Secondly, and more importantly, the government is aware of the importance of KTP for country and Kharkiv. I met with the President of Ukraine Petro Poroshenko and received the full support of our plans on the revival. We also received positive signals from regional and municipal authorities of Kharkiv. That’s why I’m sure that in the near future for KTP waits changes for the better – I personally will make efforts,” commented on the businessman, reports Interfax Ukraine (RU).
On June 9 was held a meeting of creditors of KTP. The event was attended by creditors holding a total of 90.35% of the vote. Participants of the meeting decided to launch the procedure of pre-trial reorganization and approved a plan of its realization.
According to lawyers, the introduction of pre-trial reorganization will unlock the company’s accounts, and will allow KTP participate in public tenders and fulfill government orders.
Currently legal proceedings on the recovery from KTP more than 400,000,000 UAH of debt on loans provided in 1998, (then KTP was a state enterprise), are ongoing.
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