Ilyashev & Partners has successfully challenged the arrest of 50.3% of the shares of Ferrexpo Poltava Mining, owned by Ferrexpo AG Switzerland.
PrJSC Poltava Mining is the largest Ukrainian exporter of iron ore pellets to Europe. According to Ilyashev & Partners, "the Ferrexpo Group specializes in iron ore extraction by open-pit mining, as well as the production of iron ore pellets used in steel production. Ferrexpo’s resource base is one of the largest iron ore deposits in the world. The main production capabilities of the company are located in Ukraine: Ferrexpo AG owns 99.11% of the shares of Poltava Mining, 100% of Yeristovo Mining, and 99.9% of Belanovo Mining. Ferrexpo shares are listed on the main stock market of the London Stock Exchange. In the UK the company is included in the FTSE 250 Index."
According to Ilyashev & Partners, on November 30, 2020, the Investigating Judge of the Pecherskyi District Court of Kyiv, granted the motion filed on behalf of Ferrexpo AG – the owner of the arrested property – and "lifted the arrest imposed in the criminal proceedings upon the participation interest in the amount of 50.3% of the authorized capital of PrJSC Poltava Mining." According to the firm, "the court decision entered into force and is not subject to appeal."
