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SE Artyomsol's accounts arrested, operation of enterprise could be paralyzed 11/03/2017 15:49:38. Total views 743. Views today — 0.

Accounts of state-owned enterprise Artyomsol in the evening on November 2, 2017 were arrested, and operations of the enterprise could be paralyzed, the enterprise has said in a press release.

According to the report, on November 2, the accounts were arrested as part of the enforcement procedure to collect $2.6 million of fine from Artyomsol, as the company violated the conditions of a contract with collective enterprise Pamyat in the period of 2013-2015.

According to the information received yesterday from the banks servicing the company's accounts, there was openly enforcement proceedings on compulsory execution and a decision was passed to arrest the property of the state enterprise Artemsol. Thus, after litigation in courts between Pamyat and Artyomsol, the state-owned enterprise is to pay a fine of $2.3 million, a court fee of $6.4 thousand and the enforcement fee of $240 thousand. In turn, Artyomsol filed a counterclaim to the higher business court of Ukraine.

"In the course of protracted litigation, Artyomsol defended the position of recognizing the agreement with Pamyat as invalid because of the violation of anti-corruption legislation", - the enterprise said.

The controversial agreement on startup works between Pamyat and Artyomsol was signed on October 28, 2005 for a period of more than 11 years. At the time of the conclusion, an estimated amount of UAH $595 thousand was set in the contract, which on June 20, 2014 was increased to $2.3 million. According to the terms of the contract, as a result of failure to meet its obligations by the state-owned enterprise in 2014-2015 it became possible to recover $2.3 million from the enterprise.

SE Artyomsol tried to prove in court that the said agreement contradicts the interests of the state, it does not correspond to the economic goal of the state enterprise, and it is concluded with a conflict of interests (in order to create an artificial debt of the state enterprise before Pamyat), in violation of anti-corruption legislation. The contract, supplementary agreements and protocols to it were signed by persons who are affiliated with each other in corporate interests and kinship ties, which may indicate their personal interest.