Kam’yansky Distillery Returned to State Ownership Due to Buyer’s Debts

The Kam’yansky distillery, valued at 451 million hryvnias, has been returned to state ownership due to the new owner’s failure to meet obligations. The relevant decision was made by the court following a lawsuit filed by the Cherkasy Regional Prosecutor’s Office.

This is reported by AgroReview

Reasons for Returning the Property Complex to the State

As prosecutors discovered, the buyer, who acquired the distillery at electronic auctions last year, did not fulfill key terms of the sales contract. The main reason was the existence of outstanding debts to the state budget, which is a mandatory requirement of the State Property Fund of Ukraine for the complete transfer of ownership rights.

“Prosecutors established that the buyer, who purchased the property at electronic auctions last year, did not fulfill key terms of the contract. In particular, this concerns the outstanding debt to the budget, which was a mandatory requirement of the State Property Fund.”

Registration of Ownership Rights to the State

In light of the identified violations, the prosecutor’s office filed a lawsuit to terminate the sales contract. The court supported the law enforcement’s position and ruled to return the property complex, covering over 26,000 square meters, to state ownership on behalf of the State Property Fund of Ukraine. After the decision gained legal force, the relevant changes have already been made to the State Register of Property Rights.