Integrites successfully helped Turkish investors Lutfu Turkkan, Mujakhit Turkkan, and Ahmet Penich recover their 58% share in IK Aktiv LLC and confront what the firm called a "raider attack on the company by a Ukrainian partner."
IK Aktiv LLC is the owner of the property on which the Kryvyi Rih oil extraction plant operates. Intrgrites describes the plant as "one of the leading players in the oil and fat market of Ukraine."
According to Integrites, the Turkish investors "had been illegitimately excluded from the State Register of Legal Entities, Individual Entrepreneurs and Public Formations. At the same time, as a result of illegitimate changes made to the Register, the Ukrainian partner of the Turkish investors, Ruslan Yevstafyev, had appointed himself the director of the company."
To protect their property rights, Integrites' clients filed a complaint with the State Registration Complaints Commission at the Ministry of Justice of Ukraine.
Integrites reported that "the Ambassador Extraordinary and Plenipotentiary of Turkey to Ukraine Yagmur Ahmet Guldere, Ukrainian Chamber of Commerce and Industry and its President Gennadiy Chizhikov, the Ukrainian-Turkish Business Council headed by its Chairman Rasim Bekmezji, and the Union of Industrialists and Businessmen of Ukraine and Turkey publicly spoke in defense of the Turkish entrepreneurs. The case received widespread coverage in the Ukrainian media."
The Integrites team included Senior Associate Kristina Shyposha and Associate Marta Grunska from the firm's Cross-Border Litigation practice (supervised by Partner Dmytro Marchukov), as well as Senior Associate Serhii Rymar from the firm's Domestic Litigation practice (supervised by Partner Oleksandr Onishchenko).
“To solve the problem of raiding, which foreign investors have been still facing in Ukraine, the Government, legal and business communities should combine their efforts," explained Dmytro Marchukov. "The business climate and the volume of foreign investments coming to Ukraine both in the short term and long run will depend on how well-coordinated these efforts are."
