Konnov & Sozanovsky represented DNS Trust Settlement in Cyprus court

03.07.2015

Attorney at law Alexey Ivanov, a Managing Partner, and the team of Konnov & Sozanovsky together with the Cyprus law firm A.G. Paphitis & Co. LLC have prepared and accompanied the application to the District Court of Limassol, Republic of Cyprus, in order to protect the interests of DNS Trust Settlement Trust, represented by the Trustee Manager as a shareholder of Agrein Holding Limited and its subsidiaries, including Ukrainian ones (Group Agrein), capitalization of which is more than 200 million dollars.

The statement has been prepared and submitted in the connection with the unfair actions of the Agrein Group's Management and persons empowered by proxy on behalf of non-resident companies, which are the part of Agrein Holding Limited.

The application was accepted by the court, and as interim measures issued a decree on the introduction of a temporary Manager for the interests of the Group Agrein and asset protection in the courts of Ukraine.

The District Court of Limassol, Cyprus also banned the alienation of shares and corporate rights in the Group Agrein.

In addition, there is an an interim measure at the sub judice that is associated with the introduction of independent control of the Group Agrein, meaning the introduction INTERIM RECEIVER/MANAGER with the right for a  full replacement of the management of the Group Agrein.