Dmytro Firtash's Group DF has denied the use of a stabilization loan issued by the National Bank of Ukraine (NBU) to Nadra Bank to pay for the acquisition of a 49% stake in Zaporizhia Titanium Magnesium Combine LLC (ZTMC).
According to the comments of the lawyer of Tolexis Trading Limited, Roman Chyshynsky, spread on September 25 by Group DF, "information that the stabilization loan issued by the National Bank to Nadra Bank in 2014 was allegedly spent on securing the ZTMC transaction in the interests of the private shareholder ZTMC LLC is unreliable."
The NBU stabilization loans began to be issued to Nadra Bank as part of refinancing, starting from March 31, 2014. The deal to acquire 49% in ZTMC LLC was carried out in 2013. As of March 2014, the bulk of the funds had already been contributed by a private investor.
Lawyers of Tolexis Trading Limited regard the appearance and dissemination of this information as an attempt to press on the court through the media on the eve of the hearing of two decisive court cases related to ZTMC. So, on September 30, 2020, a claim of the Specialized Anti-Corruption Prosecutor's Office (SAPO) on the termination of the agreement on the creation of ZTMC LLC will be heard at the Business Court of Zaporizhia Region. On September 28, October 1 and October 10, 2020, court hearings on criminal proceedings against Vlodymyr Syvak, ex-director of ZTMC LLC, will be held at the Appeals Chamber of the High Anti-Corruption Court (HACC).