The Land Court of Salzburg started the bankruptcy procedure of OSTCHEM Holding GmbH, which is part of the business structure of Ukrainian oligarch Dmytro Firtash. About this informs Austrian news agency ARA.
The proceedings in the case were officially opened this Sunday. According to the Austrian Credit Reform Association, OSTCHEM Holding GmbH is a classic holding whose main function was the management of shareholdings. This company belongs to the network of assets of Dmytro Firtash, who currently lives in Vienna. The main shareholder of the company (86%) is Fleori Enterprises Ltd., registered in Cyprus and also controlled by Firtash.
Until recently, the only asset of the holding was a subsidiary in Germany, which lost its operational activities after the annexation of Crimea in 2014. Due to the loss of the chemical plant in Crimea, the activities of the related company “Ukrainian Chemical Products” PrJSC, which is currently in the liquidation stage, were completely stopped.
In addition, OSTCHEM Holding GmbH has significant tax debts to Austria. In particular, the income tax for 2011 in the amount of 3.36 million euros and for 2012 – 4.21 million euros remain unpaid. The deadline for the final payment of tax liabilities ends on December 27, 2024, and appeals against these decisions are no longer possible.
“According to the balance sheet for the fiscal year 2023, de facto there are no assets, but there are liabilities for a total amount of almost 43 million euros. According to the credit reform association, the list of creditors has not yet been drawn up. The company must be closed and liquidated, the employees no longer are employed. Creditors have until March 5, 2025 to register their claims”, the message says.
