Denys (right) and Viktor (center) Dzenzerskiy show then Prime Minister Yulia Tymoshenko (left) around their Westa-Dnipro factory in November 2009. The Dnipro Commercial Court ordered the state liquidator to begin work in June as part of the company’s bankruptcy proceedings. (UNIAN)

What happened to the man whose company took out an $800 million loan with no ability to pay it back, leading to one of the largest bankruptcies in Ukrainian history, and setting off years of legal battles? He’s writing creditor defense legislation in the Rada.It’s not a joke.The story involves Westa, a battery producer, which was owned by Denys Dzenzerskiy, a Dnipro lawmaker with the People’s Front led by ex-Prime Minister Arseniy Yatsenyuk.

After years of alleged mismanagement, it racked up debts of $800 million to more than 54 separate creditors, ranging from Russian-owned bank VTB Ukraine, to the country’s tax service, to a small military battalion based along the Dnipro River.

Source: www.kyivpost.com

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