Debts in the billions, a lawsuit for 46 billions of hryvnias and the bankruptcy of the GZK: how creditors are re-taking control of Zhevago’s assets

Debts in the billions, a lawsuit for 46 billions of hryvnias and the bankruptcy of the GZK: how creditors are re-taking control of Zhevago’s assets

$113 million through offshore companies, $2,7 million in probable bribes to the head of the Supreme Court, a lawsuit for 46 billion hryvnias and the bankruptcy of the largest plants. While Konstantin Zhevago remains in France, creditors are buying up the debts of his bank “Finance and Credit” and seeking control over Poltava GZK and the pharmaceutical group “Arterium.” Participants include Leonid Kryuchkov, Vasyl Kotynkevych, and Inna Prylyepko.

This is written by “Commentaries.”},{

Zhevago owned 97,66% of the bank “Finance and Credit,” which went bankrupt in 2015-year. According to the DBO, the bank guaranteed loans of offshore entities under control, after which foreign creditors wrote off $113 million. Money was also withdrawn through related companies and fake contracts. In proceeding No. 62024000000000394, losses of 519,2 million UAH are being investigated, including operations for €17 million. In March 2026, Zhevago was charged in France; in April, he was allowed a pre-trial investigation in absentia.

Regarding the Poltava GZK shares, according to the NABU, Zhevago allegedly proposed $2,7 million to the head of the Supreme Court Vyacheslav Knyazev through Oleh Horetskyi and Anatoliy Rekuna. 19 April 2023-th the court supported Ferrexpo, 15 May Knyazev was detained along with a tranche of $450 thousand. In June 2026-th he received five years with confiscation. The accusation against Zhevago is considered by the VAKS — case No. 52023000000000460, file No. 991/8191/26.

The Deposit Guarantee Fund demands 46 billion UAH in case No. 910/268/23. Arrested are 50,3% of Poltava GZK’s corporate rights (EDRPOU 00191282), Yem pryzhivske and Bilanivske GZK (36601298). The state separately demands 157 billion UAH for probable illegal extraction of natural resources. Poltava GZK’s revenue for 2021–2025 years fell from 44,2 billion to 20,8 billion UAH.

24 February 2026-th the bankruptcy of Poltava GZK began, case No. 917/101/24. “Maxi Capital Group” (39319365) demands 4,7 billion UAH under bank obligations. Manager — Dmytro Kucheryavy. Co-owners of the creditor — Leonid Kryuchkov (25%), Vasyl Kotynkevych, Serhiy Hrachov and Serhiy Glukhenky. Leonid’s brother Dmytro Kryuchkov is involved in the “Zaporizhzhiaoblenergo” case. GZK challenges the bankruptcy.

The same Kryuchkov is linked to the struggle for “Arterium” (33406813). “Sky-Development” (43715128) with a charter capital of 1000 UAH bought bank claims with a face value of 2,436 billion UAH for 243,67 million UAH, total 10% of the starting price — auction GL18N027381. Financing provided by theCypriot ORUM (CYPRUS) LIMITED: $3,5 million, €990 thousand and 67,87 million UAH of turning assistance.

After that, “Sky” initiated the bankruptcy of “Kyivmedpreparat” (00480862) with claims of 110,11 million UAH — case No. 910/5245/25. In case No. 914/1317/25 the court approved the rehabilitation of “Galichfarm” (05800293): 1,39 billion UAH of debt is converted into 154,44 million shares — 91,25% of the plant. In disputes participate “Arterium LTD” and “Pharmed,” separately asserted 338,56 million UAH of claims.

Now Sky itself goes bankrupt. Its participants are ORUM (33,4%), Kotynkevych (33,3%), “STAR” (44206100) (16,7%) and “Factory-Invest” (43865715) (16,6%), beneficiaries — Kryuchkov and Kotynkevych. In proceeding No. 12026000000001226 investigators examine the possible seizure of corporate control. 26 August ORUM demanded 220,67 million UAH and launched bankruptcy No. 910/9675/26, manager — Oleksandr Demchian.

Real estate of “Kyivmedpreparat” attracted interest from Inna Prylyepko’s companies — “Modern Metallurgy” (44029689) and “Perfom Standard” (43493174). The first offered 280,114 million UAH for the property on Saksahanskogo, 139, the second participated in the bidding. In case No. 910/5245/25 (910/6708/26) the first-instance court recovered 311,94 million UAH from Slovenian Marifarm, canceling the license agreement for the drug “Gabana.”

ARMA transferred seized real estate of Zhevago’s “Optima Resource” with the transfer of 81% of profit to the state. “AvtoKRAZ” came under state control, around “Vorskla” a conflict continues over “Neominerals.” Sanctions of the NSDC No. 81/2025 apply. Ferrexpo approved a pre-demsision for $100 million: $50 million is invested by Andriy Verevsky, about $40 million — the Zhevago-Fevamotinico group which previously owned 49,27%. Verevsky aims to obtain 21,4% of the shares.

France refused Ukraine’s extradition of Zhevago.