Challenging Bankruptcy: Zhevago Pressures the State Using Ferrexpo Audit Findings

Zhevago continues attempts to threaten and blackmail, this time stating that Ferrexpo will be unable to operate due to “ongoing legal disputes” and sanctions against the owner.

In particular, in a report that was later circulated by the media, it is noted that the ability to continue to operate uninterruptedly could be significantly affected by the bankruptcy case of the Poltavsky Mining and Processing Plant, a subsidiary JSC, as well as two lawsuits: for 4,7 billion UAH under a surety agreement and a civil claim for joint liability of the company and its general director for reimbursement of 157 billion UAH in losses in favor of the state in connection with probable illegal extraction and sale of minerals.

Additionally, it is stressed that the group in Ukraine is “exposed to risks” because its owner — Kostyantyn Zhevago, who indirectly controls 45,3% of the shares, has been under Ukrainian sanctions and facing criminal charges since February 2025.