UK court ties hands of new TVi owner


Ukrainska Pravda reports that a London court has prohibited the new owner of TVi, the English firm Credit Investbank plc from carrying out any actions with the shares of the television channel.

In a court ruling on 31 May the court froze the company’s assets and banned It from carrying out any movements with the shares, direct or indirect.

The next court hearing into the case is scheduled for 7 June.

Over the last week there was a change in owner with the Media Info company which belongs to Oleksandr Altman’s Balmore firm being removed from among the owners of TVi.  Instead of that company,  the Ukrainian limited liability company Finance Group Factoring Company which belongs to Credit Investbank became owner.

The previous owner of the channel, Konstantin Kagalovsky had obtained a ban on Balmore playing with the shares of Media Info, but the ruling did not apply to the Teleradiosvit Company which made it possible to pass the shares of the company to a third party.

As reported, there was effectively a hostile seizure of TVi on 23 April.  The channel had become virtually the last independent channel in Ukraine and had been under attack many times over the last 3 years.

The percentage owned by Kagalovsky’s company was reduced to 5%, and control over it went to Balmore Invest Limited, which Altman calls himself the owner of.

See Divide and Rule Indefinitely for more detail

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