The court closed the bankruptcy case of Centrenergo

The court stopped the bankruptcy of PJSC Centrenergo, said Head of the State Property Fund of Ukraine Vitaliy Trubarov.

“Kyiv City Commercial Court has terminated bankruptcy proceedings of PJSC Centrenergo. The court granted the request of the State Property Fund, and accordingly, the bankruptcy case is closed”, Trubarov said.

Centrenergo is subject to privatization and the Fund is doing everything for its successful sale, he added.

“I hope that soon the security will also be lifted in the case of the Kyiv Regional Administrative Court in the lawsuit of Ukrdoninvest LLC, which forbidden the Fund to carry out any actions to privatize Centrenergo”, Trubarov said.

The case on declaring Centrenergo bankrupt was opened in 2004 at the suit of Rovenkiantratsit, which is part of Rinat Akhmetov’s fuel and energy complex Energo,.  

Recall that on October 29, 2018, the State Property Fund announced a tender for the sale of shares of Centrenergo at a starting price of 5.98 billion UAH. A sale was scheduled for December 13, 2018, the competition was to be held if there were at least two participants, one of which was foreign.

The auction did not take place as the documents of interested companies, in particular Ukrdoninvest LLC and the NefteBitumen Plant production unitary enterprise (Belarus), were not allowed to participate, because the documentation they submitted did not meet the requirements of the law.

Centrenergo operates 23 units (18 are coal-dust, five are gas and oil) at the Vuhlehirsk, Zmiev and Tripol TPPs with a total installed capacity of 7690 MW.


Tags: The Cabinet of Ministers, DTEK, contracts, court, legislation, electricity, TPP, electricity market

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