Oschadbank refutes the information of the “Three O” LLC about the transfer of the Gulliver COC to the management of state banks

Oschadbank reports that the information about the transfer of the Gulliver commercial and office complex (COC) to the management of state banks is not true. As of 1:00 p.m. on August 1, not a single document on the transfer of infrastructure elements to the management team of state banks has been signed due to the non-constructive position of the former owner of the complex.

Oschad's attempt to negotiate on the principles of trust and cooperation was used by the “Three O” LLC for manipulation and blackmail. The actions of the former owners of the facility appear to be aimed at harming primarily tenants and employees of the Gulliver COC.

This is confirmed by:

• an ultimatum from the “Three O” LLC, sent by e-mail, to sign a day-to-day acceptance-transfer act with threats to stop “ensuring proper and safe operation of the complex,” while publicly declaring “its full responsibility to ensure stable and uninterrupted operation of the object”;
• groundless preliminary refusals to sign the act of acceptance and transfer proposed by Oschadbank;
• refusal to transfer both the list of documents and even the contact details of responsible employees;
• publicly inducing tenants not to renegotiate lease agreements with new owners;
• inducing the COC staff to refuse to work for new owners because of far-fetched pretexts.

Oschadbank, on behalf of the consortium, appeals to the former owners and management of the Gulliver COC with a request to facilitate the transfer of cases as much as possible. The bank anticipates that everyone involved will have a positive attitude that will help prevent facility operations from stopping. We ask tenants and visitors to be understanding in case of certain inconveniences. We will do everything in our power to ensure that the transition period is as fast as possible and the least uncomfortable for everyone.

We remind you that after the change of the owner, the income from the operation of the complex will go to state banks, which will lead to an increase in revenues from these financial institutions to the country's budget, which greatly needs funds right now to finance the country's defense.

As previously reported, on July 26, a consortium of Oschadbank (80%, the lead) and Ukreximbank (20%) acquired ownership of the Gulliver commercial and office complex, which served as security for the fulfillment of loan obligations. There was a recovery process started by two state-owned banks because the debtor, the "Three O" LLC (owner of the Gulliver COC), did not meet its obligations under the credit agreement. A process is currently under way to transfer management from the former owner to the joint management team of the state-owned banks.