Kernel agroholding is trying to sue for a terminal on the Danube

The Luxembourg company Tzedakah Funds claims the terminal in Reni, owned by Kernel.

The matter concerns control over the logistics company Reni-Terminal, located on the Danube, writes LIGA ZAKON.

The publication notes that the demands for the terminal are made by the current or former son-in-law of Gennady Bogolyubov from the entourage of the odious oligarch Igor Kolomoisky. Thus, the former acting general director of NSK Olimpiyskyi and Dmytro Chernyavsky, who is banned from entering Ukraine and has three citizenships (Ukrainian, Croatian and Russian), uses the Luxembourg company Tzedakah Funds, according to data from the LIGA360 service, to gain control over the company Reni-Terminal.

According to media reports, in 2016, Tzedakah Funds allocated 1.45 million euros as a loan to Janolio Holdings, a company associated with Oleksandr Adarich (former chairman of Eurobank, who is currently wanted in connection with the case of seizure of the lender’s assets worth over 420 million hryvnias).

On October 27, 2017, the agreements between legal entities specified a 100% share of Reni-Terminal LLC as a guarantee for the repayment of the loan.

“Tzedakah Funds claims that in 2018 the loan was not repaid, but at the same time Reni-Terminal increased its authorized capital by almost 18 million hryvnias with the involvement of Danube Terminal Service, which is also probably associated with Adarich. At the same time, the companies did not report any changes in the amount of the authorized capital. As a result, this led to the fact that its share in Reni-Terminal decreased from 100% to 80.5%. It was these changes that became the basis for a lawsuit in the future,” the material says.

By 2021, Nolper Holdings, a company registered in Cyprus and probably associated with Adarich, acquired 100% ownership of the terminal in the Odessa region. In particular, in January 2022, Chernyavsky’s Tzedakah Funds tried to exercise the right of a pledgee and registered 100% of the share for itself. In the summer of the same year, the Ministry of Justice of Ukraine satisfied the complaint of Nolper Holdings and canceled the registration act.

Thanks to the decision of the Ministry of Justice, companies from Adarich’s orbit regained full control over Reni-Terminal. Five months later, the company was bought out by Reni-Oil, whose co-founder in the registers was Igor Adarich, the son of Oleksandr Adarich.

Already in 2023, full control over Reni-Oil passed to Andriy Verevskyi, who owns Kernel. Agroholding bought out the company with the assets of Reni-Terminal for $24.75 million. The asset was finally included in the holding’s structure on March 18, 2024.

It should be noted that the legal case regarding control over Reni-Terminal is currently ongoing.