The Grain Handling Complex «Inzernexport» Owes Half a Million Hryvnias to Odessa Port
The grain handling complex «Inzernexport» owes the Odessa port over half a million hryvnias for rental property, which led to the termination of the lease agreement. The regional branch of the State Property Fund of Ukraine in the Odessa and Mykolaiv regions terminated the contract with «Inzernexport,» Hubs reports.
«Inzernexport,» which is part of the Ukrainian holding GNT Group, is responsible for the logistical grain complex in the Odessa seaport. Systematic delays in rent payments, confirmed by numerous claims, became the main reason for this step.
According to the announcement of the regional branch of the State Property Fund, the company failed to fulfill its financial obligations for over three months, which gave grounds for termination of the contract in accordance with Article 782 of the Civil Code of Ukraine. The contract was signed in 2006, and until 2022, the company conscientiously fulfilled its obligations.
However, in 2022, a corporate conflict between GNT Group and the foreign creditor Argentem Creek Partners (ACP) began, leading to financial problems. In 2019, a credit agreement was signed for $75 million, which also became one of the reasons for the current situation,» the Fund said in a statement.
