Imperiya-Agro and TAScombank conflict may disrupt the sowing campaign (UPDATED)

A multimillion-dollar conflict rages between Imperiya-Agro and TAScombank.

This was informed to Latifundist.com by sources in the market.

According to the source, the reason for the conflict was the bank loan for Imperiya-Agro in the amount of UAH 300 million.

"The company is a debtor of the loan, the collateral of which was commodity stocks. Apparently the bank is trying to take what is its. The used methods are another matter," the source said.

Imperiya-Agro recognizes the debt and states that since last Friday TAScom has been blocking the main warehouse of Imperiya-Agro with hired armed guards. The company also confirms that they suspended all trading operations.

Several of the company’s customer farmers have already contacted Kurkul.com, which is part of the agro media holding Latifundist Media. This situation may jeopardize the beginning of the sowing campaign for customer companies.

It is obvious that as a result of the conflict between the bank and the company, agro-enterprises that are contracted for the purchase of inventories, and whose products are in its warehouses, will be seriously affected.

According to Latifundist.com sources, the number of agro-companies affected may reach several thousand. In addition, the situation will affect manufacturers of plant protection products, seeds, etc., as well as other banks.

Latifundist.com will keep track of the situation and share the latest updates with the readers.

UPDATED

According to the message published on Imperiya-Agro website, the parties agreed to sit down at the negotiating table.

"Assessing the situation and understanding the position of farmers, who may bear losses during the sowing campaign, as a result of the conflict between the company and TAS Group, the parties agreed to sit down at the negotiating table. For our part, we hope that positive agreements will be reached that will satisfy both the company and the agricultural sector of Ukraine," the company emphasized.

In case you have any information on the ongoing or if you are the affected party, please inform us via e-mail press@latifundistmedia.com or call 093 756 24 21.

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