Dmytro Sennychenko: The State exists, so privatization and inflow of investments won’t be destabilized

As previously reported,the formermanagementof JSC "United Mining and Chemical Company" tried  to regain control over the strategic enterprise through illegal decisions of courts.

But, on April 29, 2020, the Economic Court of Kyiv satisfied the State Property Fund of Ukraine’s petition on the case №910/494/20 and cancelled the previous illegaldecisionsthrough a court order(the illegaldecision of theEconomicCourt of Kyiv from 16.04.2020).

The Head of the State Property Fund of UkraineDmytro Sennychenkosaid: "One of the basicprinciples of the State Property Fundof Ukraine’swork is to ensure investments attractionin Ukraine.Therefore, the Fund will preventa returnto governance the former management, which has proved its inability to perform official duties and protect the State’s interests".

According to the temporarily acting Chairman of the Board of JSC “UMCC” Peter Davis, the works to eliminate the negative consequences resulted by the corrupt former company leaders’ activity are ongoing. And this activity is the main reason of the systemic problems at an enterprise.

"We are working to ensure maximum transparency and efficiency of JSC “UMCC”. This is a large enterprise and our new team carries out the tasks responsibly to stabilize it. The main task for me and for the State Property Fund in the context of the State’s interests protection and further object preparation for privatization is to provide a continuous functioning and financial stability of the company," - acting Chairman of the Board of JSC “UMCC” Peter Davis stated.

Thus, according toone of the NABU’sinvestigationepisode, the criminal actions of the former company’s management caused the enterprise to lose $13 million. The new team will facilitate law enforcement authorities and will continue the former leaders’ activity auditing,disregarding their obstacles.

At the same time, access to the website and other information resources of JSC “UMCC”, owned by the State as the sole shareholder of the company, continues to be illegally controlled by third party private individuals and are being used with the goal of an information attack to the public authorities.

This situation willnotbe left without the reaction of law enforcement agencies, which shall provide a legal assessment to illegal actions in full accordancewith the current legislation of Ukraine.

Due to temporary illegal seizing control of access to the JSC “UMCC” information resources, news and other information  concerning the activity of the state company will be published on the State Property Fund of Ukraine’ official website.