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Automatically translated version. May contain inaccuracies compared to the original.
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Order No.1081 — how the State Property Fund privatized the Black Sea Shipping Company while the court kept its doors closed for three years
Imagine. A sign hangs on the door: "Privatization of BSC — prohibited." In force since October 2022. The Supreme Court in 2023 even put a lock on it. And here the SPF sneaks by on tiptoe, with an order under its arm. And it whispers: "We are not privatizing. We are just transforming."
📌 The SPF Order No.1081 was signed on 29 May 2026: "A decision was made to transform SE 'BSC' into LLC 'SE 'BSC', 100% of whose shares are owned by the state."
⚖️ And absolutely contrary to the current court decision. What the court told the SPF back in 2022–2023 — case No.910/6998/21. Plaintiff — Ministry of Infrastructure. Defendant — the same SPF.
🔸19.10.2022, Commercial Court of Kyiv: SPF Order No.545 of 25.04.2018 on the privatization of SE BSC has been annulled.
🔸13.02.2023, Supreme Court: SPF runs to cassation — the SC denies even opening proceedings.
🔸19.04.2023, Northern Commercial Court of Appeal: SPF's appeal finally rejected. No substantive cassation. The decision has been in force for over 3 years.
🧠 But the SPF in 2026 has a different plan. Not a "sale at auction," but a "transformation into an LLC." In essence — the same exit into a corporate shell, which is then quietly parceled out, divided into assets, and populated with "investors." Everything the court prohibited in 2022. Just through the back door.
📌 The balance-sheet valuation of BSC on SPF papers is 83 million UAH. The price of the shipping company with 145 ships in its history. Roughly like a one-room apartment in Troieshchyna.
🗝 Actual perimeter:
✔️450 million dollars of loan liabilities secured by the fleet through London's Ocean Agencies Ltd, formerly BLASCO UK (directors with Monaco registration);
✔️12 bulk carriers at shipyards in China;
✔️37,93% of the Vietnamese port "Lotos";
✔️ real estate and port infrastructure in Odesa.
🚫 Formally the state enterprise "moves" to an LLC for the price of an apartment — with assets and liabilities amounting to hundreds of millions of dollars within the perimeter. And all this — by order, contrary to the current court decision.
The order was signed by SPF chair Dmytro Natalukha; involved in the implementation scheme are subordinates Vitaliy Kovalenko and Vadym Vanchenko. On the other side — Yurii Berezhnoi (from Luhansk) — acting president of BSC, in whose declaration the NACP found 12,6 million UAH of inaccuracies. Yurii Harbuz — advisor to BSC, former head of Luhansk Regional State Administration.
And above them all, with a baton in his hand and a Monaco passport in his pocket, conducts Vladimir Galanternik — a figure in the NABU/SAP case No.42017000000001097 for 689 million UAH, wanted internationally, with an in-absentia status at the High Anti-Corruption Court. 25 years one scheme, one conductor, one country playing the role of the chick from the well-known proverb.
☑️ NABU and SAP must understand that Order No.1081 is a ready-made procedural episode. Subject — officials of the SPF. The court decision in case No.910/6998/21 was violated. Motive — asset extraction through corporatization. The top — Galanternik, which corresponds to Articles 364, 191 and 209 of the Criminal Code of Ukraine. We continue to investigate and publish schemes surrounding BSC.
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