The court granted the petition of Mriya bondholders on the recognition of liabilities for $573 million
On December 16, 2016 Ternopil Economic Court granted the petition of the trust company BNY Mellon Corporate Trustee Services Limited, acting on behalf of all Eurobond holders issued by Mriya Agro Holding PLC under the previous management in 2011 and 2013.
This was reported on the company's website.
The court declared valid the debt obligations of 68 companies that are part of the Agricultural Holding Mriya and act as guarantors of Mriya Agro Holding PLC on these bonds.
"As part of the company's debt restructuring process, the company recognizes the requirements of bondholders regarding the debt inherited from the previous owners of the company, and relies on competent and unbiased court decisions in the future", said Simon Cherniavsky, CEO of agricultural holding Mriya.
Here is to remind that the lawsuit concerns obligations of 68 Mriya companies on Mriya Agro Holding PLC overdue debt in the amount of $573 million (15 billion UAH), which consists of the outstanding loan amount and interest from August 2014, when the company defaulted on Eurobonds, failing to exercise the due payment.