The Salzburg Regional Court has opened bankruptcy proceedings against OSTCHEM Holding GmbH, which is part of the network of companies of Ukrainian oligarch Dmitry Firtash.
This was reported by Ukrinform with reference to the Austrian news agency ARA.
This company, registered in Salzburg, is a classic holding company. Its sole corporate purpose was to own and manage shares in other companies.
The majority shareholder of the holding (86%) is the Cypriot company Fleori Enterprises Ltd., which is also owned by Firtash.
The only asset of the holding until recently was a 100% subsidiary in Germany. The company did not carry out any other economic activity. In 2014, after the annexation of Crimea, the holding lost control over the chemical plant located on the peninsula. This led to the complete cessation of the activities of its subsidiary, PrJSC "Ukrainian Chemical Products", which is currently in liquidation.
The holding still has significant tax liabilities to Austria. The following remain unpaid:
- income tax for 2011 in the amount of €3.36 million,
- income tax for 2012 in the amount of €4.21 million.
The deadline for paying these taxes expires on December 27, 2024. It is no longer possible to appeal the relevant decisions or notifications from the Federal Financial Court.
According to the balance sheet for the 2023 financial year, the company has virtually no assets, but liabilities amount to almost €43 million. The list of creditors has not yet been formed.
The company is scheduled to be liquidated. Creditors have until March 5, 2025, to register their claims.
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