FACTS OF EBRD`S COOPERATION WITH RAIDERS
EBRD was immediately informed about the hostile takeover of Interleaseinvest LLC.

The bank was offered to participate in judicial proceedings as an aggrieved party in order to protect the collateral, to avoid agreements with raiders, to help the Prosecutor's General Office to provide investigative actions etc. Unfortunately, EBRD refused to cooperate with legitimate owners and Ukrainian authorities.

Instead, some individual representatives of EBRD, fully recognizing the fact of raiding, have entered into negotiations and established a fruitful cooperation with intruders.
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The main reason for EBRD for such cooperation was the necessity to resolve disputes concerning the recovery of collateral (money on Interleaseinvest's accounts and park of freight wagons in the number of 2387 wagons) with Ukrainian courts, involving corruption-related connections of intruders. As a reimbursement for so-called «service», EBRD has agreed to sell 702 wagons (or 29% of general quantity) to raiders for 2,5 million dollars, which was really detrimental to EBRD. The salvage value (not market value!) of these 702 wagons is at least $7 million. As a result, losses of EBRD were more than $4.5 million.

That is evidenced in the following facts:

Being clearly and unambiguously informed about the fact of documents feigning and the illegal registration data of the Interleaseinvest changes, Ms. Marina Snaith (Senior Banker, Risk Management, EBRD) in a period between October 2014 and March 2016 was holding meetings, negotiations and other kinds of communication with Mr. V. Astion, Mr. S. Rakytnyi, Mr. V. Tur who presented themselves as a new Interleaseinvest's owners and managers.

Abovementioned fact is also confirmed by the Prosecutor General's Office of Ukraine, whom found out during pre-trial investigation that particular EBRD representatives after illegitimate change of Interleaseinvest's owners in September 2014 negotiated about the distribution of property with the persons who managed the property of Interleaseinvest illegally within a period from October 2014 to March 2016.

The draft of the so-called "voluntary settlement" between the EBRD and raider-governed Interleaseinvest company was a result of their collaboration.

On 16 October 2015 Ms. Marina Snaith offered the authorized officers of EBRD to approve the text of this agreement and outlined the economic rationale for the earliest possible conclusion, made on the basis of hypotheses and prerequisites. Recognizing the existence of «reputational» risks from concluding agreements with raiders, she grounded the importance of cooperation with raiders on necessity to receive positive decisions of courts and loyal position of Interleaseinvest in court proceedings.

On 29 October 2015 Ms. Marina Snaith as a representative of EBRD signed the agreement, namely, «Basic Terms of Dispute Settlement between European Bank for Reconstruction and Development, Interleaseinvest LLC, and Vesta Services Ltd. (see attached). Under this agreement, Interleaseinvest LLC had to play along in Ukrainian courts, agreeing voluntarily with claims, made by the EBRD, concerning the recovery of collateral property in exchange for 702 wagons and cancellation of recovery as a collateral of shares of Mr. Rakitin in authorized capital stock of Interleaseinvest Ukraine B.V., given under the so-called voluntary settlement.

This agreement was signed on behalf of Ukraine by Mr. Astion, who is the prime suspect in the criminal investigation concerning corporate raids.

After rendering by the Court of Appeal of Dnipro Region the decision dated 17.02.2016 on reinstating the rights of legal owners and management of the Interleaseinvest LLC, the fulfillment of this agreement by criminals and the EBRD was entered into force.

On 29 February 2016 an illegal and illegitimate Director of the Interleaseinvest LLC Mr. V. Tur appealed to the Commercial Court of Dnipro Region with a request to sustain the claim of the EBRD against Interleaseinvest LLC and recover company's 2387 wagons as a collateral for the EBRD's loan.

On 1 March 2016, EBRD and Interleaseinvest signed the account reconciliation protocol (copy attached) with Mr. Mark Magaletskyy on behalf of EBRD and with unauthorized accountant, unemployed at the moment of signing the treaty and being recruited by illegal owners, on behalf of Interleaseinvest. On 29 February 2016, that illegal staff member was fired by Mr. Constantine Misakov - the legitimate owner of the enterprise. That account reconciliation protocol was transferred from EBRD to the Commercial Court of Dnepropetrovsk Region, and that fact may be considered as an attempt to mislead the Court.

On 2 March 2016, the Commercial Court of Dnepropetrovsk Region decided to sustain a claim by EBRD to Interleaseinvest LLC and recover 2387 wagons as a collateral for the loan.

Another evidence of collusion between EBRD representatives and raiders is the correspondence between Ms. Marina Snaith and Ms. Iryna Prysiadko, Finance Deputy Director. In this letter, Iryna offered the Bank her support while transferring the ownership on wagons withheld from Interleaseinvest LLC. At the same time, she reminded Ms. Marina Snaith on complying the previous promises and material support in sustaining the EBRD's claims in Ukrainian courts on recovering 2387 wagons from Interleaseinvest LLC: 2 March 2016 – The Decision of the Commercial Court of Dnipro Region, 7 June 2016 – Order of the Court of Commercial Appeal of Dnipro Region, 3 August 2016 – Order of the High Commercial Court of Ukraine.

With the purpose to clarify the objective circumstances of cooperation between EBRD and raiders, on 14 April 2016 the Prosecutor's General Office of Ukraine sent a respective inquiry to the EBRD. In response, EBRD refused to answer, referring to the diplomatic immunity of their members.

In accordance with Ukrainian legislation, the actions of Ms. Snaith, among which are negotiating with raiders being informed on crime committed against Interleaseinvest LLC and its legal owners and concealment from law enforcement bodies of Ukraine, are qualified as complicity in a crime provided for in article 255 of the Criminal Code of Ukraine (Creation of a criminal organization).

Ms. Snaith and other EBRD staff, enjoying their diplomatic immunity, are avoiding cooperation with law enforcement agencies of Ukraine and constantly ignoring the requests of Ukrainian law enforcement agencies concerning the investigation of the criminal case, namely, the hostile takeover of Interleaseinvest LLC. By these actions, they tangle the investigation against criminals.

During the unlawful possession of Interleaseinvest LLC the park of freight wagons have made approx. $10-12 million income. That sum was not referred to loan repayment. For 16 month of negotiations between Ms. Snaith and raiders EBRD has not even tried to force Interleaseinvest LLC to direct that income to loan repayment. Also, that issue was not raised in voluntary agreement.

Notification of suspicion about corporate raid done against Interleaseinvest LLC, EBRD's loan subscriber
Copy of the Letter from the EBRD to the Prosecutor General's Office of Ukraine and Copy of the Letter on First Meeting
Voluntary Settlement dated 29.10.2015 signed by Marina Snaith and Astion
Prosecutor General's Office of Ukraine Letter to Subbotin (dated 4.08.2016)
Voluntary Settlements' Coordination in the EBRD's office
Recognizing illegitimate EBRD' claim on wagons recovery by the Director of Interleaseinvest LLC E. Tyr
Reconciliation of settlements by the illegitimate accountant of Interleaseinvestment LLC O.V. Chelabadze
Validated correspondence between the EBRD and raiders
EBRD and raiders' Action Plan 2016.02.02
Other documents
The most famous cases concerning EBRD officials (Download file)
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