The attempt by the former owner of the Gulliver COC to politicize the failure to fulfill his debt obligations will not lead to avoidance of liability in court, according to a statement by Oschadbank

This case, unique for the Ukrainian banking market, in which the collateral for a problematic asset was acquired by creditors, received widespread publicity. Unfortunately, not only as an example of the borrower's inescapable obligation to fulfill their credit obligations but also because the attempts of the former owner of the Gulliver commercial and office complex (COC) to prevent the transfer of the asset to the ownership of a consortium of banks led to the need to temporarily close the complex to restore the safety of its use (https://www.oschadbank.ua/news/obstezenna-sistem-zittezabezpecenna-tok-gulliver-zasvidcilo-umisne-vilucenna-psuvanna-i-nezakonne-vivezenna-kriticno-vazlivogo-dla-roboti-kompleksu-obladnanna).

After the Gulliver COC became the property of a consortium of state-owned banks, the consortium's legal proceedings against Three O LLC were not concluded.

On November 19, 2025, the Commercial Court of Kyiv opened bankruptcy proceedings against Three O LLC at the request of Oschadbank.

Legal proceedings are also ongoing in the London Court of International Arbitration (LCIA) on claims by Oschadbank and Ukreximbank to recover funds from Viktor Polischuk under a guarantee for the obligations of Three O LLC. 

Perhaps this is why an interview was published today in which Viktor Polischuk attempted to shift his refusal to fulfill his obligations to the banks into the political sphere.

Please note that the Gulliver COC, as collateral under the loan agreement, was transferred not to the state but to state-owned banks that issued a loan to a specific borrower on market terms in strict compliance with all NBU regulations.

To stop any manipulation of the cause-and-effect relationships of each decision made by the consortium of banks regarding lending to the Gulliver COC during the term of the loan agreement, below is a summary timeline of this business case.

• June 9, 2006—a non-revolving credit line was opened to finance the construction of the Gulliver COC, partly in hryvnia and partly in US dollars;
• October 2007 to September 2013, credit limits were increased. According to the business plan, the initial cost of construction was US$88,240,000, with an opening date in 2007. Over time, the cost according to the business plan was increased by the borrower to US$440,990,000, with an opening date in 2013.
• November 2012 – at the request of the owners, the consortium of banks, in accordance with the terms and conditions for the disposal of collateral, gave its consent to the sale by the owners of  part of the office space in the complex;
• September 2013 – at the request of the owners, the consortium of banks, in accordance with the terms and conditions for handling collateral property, gave its consent to the sale by the owners of part of the space in the complex, credit limit increased;
• March 17, 2014 – last loan disbursement made;
• April 2014 onwards, short-term debt restructuring took place;
• August 26, 2020—financial restructuring carried out in accordance with the Law of Ukraine “On Financial Restructuring”;
• May 22, 2018—the loan was recognized as problematic
• July 2023 – the borrower's funds in the consortium's bank accounts were seized;
• April 9, 2024—by a ruling of the Kyiv Court of Appeal, the complex was seized as material evidence.
• August 2024 – a decision was made to grant consent to initiate a restructuring procedure under the Law of Ukraine “On Financial Restructuring” and the procedure for initiating enforcement in the event of default by the borrower or other events related to the asset. This list was communicated to the borrower in the manner prescribed by law. It was precisely because of the breach of these obligations that the banks initiated the enforcement process.

This list was communicated to the borrower in the manner prescribed by law. It was precisely because of the breach of these obligations that the banks initiated the enforcement process.

The debt collection process is carried out with the involvement of leading Ukrainian and international law firms.

During the term of the consortium agreement, 67 amendments were made to it, including 29 restructurings.

During 2006-2025, decisions on lending volumes, approval of changes in ownership, approval of the sale of parts of collateralized property, etc., were made by the collegial bodies of two state-owned banks participating in the consortium. Accordingly, any assumptions about the influence of any one person on the adoption of any significant decisions on the loan are manipulation and an attempt to politicize the debtor's failure to fulfill its obligations. During this period, the chairmen of the board of Oschadbank were the following persons:

• 2005-2007 – Oleksandr Morozov;
• 2007-2010 – Anatolii Huley;
• 2010-2011 – Vyacheslav Kozak;
• 2011- 2014 – Sergii Podrezov;
• 2014-2020 – Andrii Pyshnyy;
• 2020-2025 – Sergii Naumov.