Completion of restructuring is the key objective for Ukrlandfarming in 2019 — Petrashko

Ukrlandfarming is set to complete the debt restructuring process in 2019. This was informed by Igor Petrashko, Deputy CEO of Ukrlandfarming in the exclusive comment for Latifundist.com.

“Ukrlandfarming plans to complete the restructuring in 2019. It is crucial to get a stable vision of the company's future. For this, it is necessary to complete the restructuring not only external but internal as well,” commented Igor Petrashko.

In his view, government agencies, the Deposit Guarantee Fund and the case with the National Bank are a complex of factors that need to be solved with foreign investors, rather than with Ukrainian ones.

“I am convinced there is every chance to complete the restructuring in 2019. Most foreign creditors are ready for the fact that they may not like the offer. At the same time, the proposal is well-founded and is based on independent expertise. We are ready to compromise,” added Igor Petrashko.

Igor Petrashko further said that during the period of debt restructuring, the company reduced the farmland bank by 17% from 650 to 540 thou. hectares.

Previously it was reported that the company had suggested an update of its debt restructuring proposal for all its creditors.