The Mykolaiv alumina plant remains under arrest

The Kyiv Court of Appeals left under arrest the corporate rights of sanctioned russian businessman Oleg Deripaska in the amount of over 3.58 billion UAH.

We would like to remind, that in March it became known that the President of Ukraine Volodymyr Zelenskyy signed the law on seizing russian property in Ukraine. Nationalization included property belonging to russian federation or legal entities whose beneficiary or founder are russians. The list of these objects includes, in particular, the Mykolaiv Alumina Plant.

The rights to the plant are divided between two companies, LLC “Company “Aluminium of Ukraine” and LLC “Guadron Ukraine”. The representative of these companies (i.e. the representative of Oleg Deripaska) tried to appeal the arrest, but on September 28, the panel of judges of the Kyiv Court of Appeals considered the appeals and upheld the verdict.

Thus, the corporate rights of the companies “Aluminium of Ukraine” and “Guadron Ukraine” remain arrested. Both companies owned Mykolaiv Alumina Plant in shares of 13.9% and 86.1%, respectively. The sum of their corporate rights is equal to 212 million UAH and 1 billion 311 million UAH.

We would like to remind, that earlier the USA introduced sanctions against Oleg Deripaska due to the military aggression of russian federation against Ukraine. Since the beginning of the war, Deripaska has lost about 30-50% of the total property structure, mainly due to the Mykolaiv Alumina Plant.

Last year alone, the Mykolaiv Alumina Plant received 75% (about 5 million tons) of all Ukrainian ore imports. The plant processed imported bauxite into alumina and sold it abroad for the production of aluminum.