Assets of Polyplastik Group's sanctioned founders finally transferred to the state by HACCU decision

By the decision of the Appeals Chamber of the High Anti-Corruption Court of 22 November 2024, the decision of the High Anti-Corruption Court of 20 September 2024 in case No. 991/4264/24 was upheld.

The appeals of the third parties Eurotrubplast Holding Ltd, Radius Group Holdings Limited Olenikov O.V., Strilets I.A., Herta Oishterle, Marchenko O.A., Volkov R.A., Gontarenko O.S., appeals of the defendants Buyanovsky V.M, Menshov A.M. and the appeal of the Ministry of Justice in case No. 991/4264/24 under the claim of the Ministry of Justice of Ukraine against Horilovsky M.I., Buyanovsky V.M. and Menshov A.M. on the application of a sanction provided for in paragraph 1-1 of part one of Article 4 of the Law of Ukraine ‘On Sanctions’.

By the decision of the High Anti-Corruption Court dated 20 September 2024, following the claim of the Ministry of Justice of Ukraine, the sanction was imposed on Horilovsky M.I. and his business partners Buyanovsky V.M. and Menshov A.M., who are the founders, controllers and top managers of the russian Poliplastik Group.

‘Poliplastik Group is a large industrial conglomerate specialising in the production of high-tech polymer pipes and composite polymer materials, with a research and development base for research and development in the field of composite polymers, which have a wide range of applications, from the production of polymer pipes to the manufacture of small arms components.

The russian Ministry of Industry and Trade has included Polyplastik Group in the list of organisations that have a significant impact on industry and trade in russia.

Since the beginning of russia's full-scale invasion of Ukraine, Polyplastik Group companies have been actively involved in import substitution of products that have become unavailable in russia due to the imposition of EU sanctions against russia.

Gorilovsky M.I. and his business partners Buyanovsky V.M. and Menshov A.M., with the help of controlled companies of the Poliplastic Group, took actions aimed at supporting the aggressor country's aggressive policy by

supplying Polyplastik Group products for the construction of sewage infrastructure facilities in the occupied Crimea at the request of the occupation administrations;

participation of specialists of the Group's subsidiary, LLC SPE Poliplastic, in the development of polymeric material for use in the manufacture of small arms;

supply of polymers to the military-industrial complex of the russian Federation.

The decision of the HACCU forfeited to the state the assets under which the sanctioned persons exercise indirect control, namely corporate rights to companies that were part of the Ukrainian part of the Poliplastic Group:

93% of the share in the authorised capital of LLC ‘Trading House ’Eurotrubplast’

93% share in the authorised capital of Kalush Pipe Plant LLC

93% of the share in the authorised capital of Rubizhne Pipe Plant LLC

100% share in the authorised capital of Polimerteplo-Ukraine LLC

10% share in the authorised capital of Ukrainian Polymer Group LLC

51% share in the authorised capital of Cordflex LLC

The decision has entered into force and is not subject to appeal.

Source: Ministry of Justice of Ukraine