The Economic Court of the Lviv region declared the company “Galychyna”, connected with the “Continium” group, bankrupt. The liquidation procedure of the dairy company is opened, finbalance reports.

The bankruptcy proceedings lasted almost three years, from November 2015.

It is noted that the total accounts payable of “Galychyna” are 1.18 billion UAH, while the value of the property is about 232 million UAH. The court has not found any signs of fictitious bankruptcy.

By the way, according to the National Securities and Exchange Commission, the owner of a 100% stake in the bankrupt company is Cypriot “Brosmont Holdings Limited”.

Back in 2010, the “Western Milk Group”, controlled by the “Continium” group of Stepan Ivakhiv, merged with “Galychyna”, the beneficiaries of which were the Lviv residents Andrey Korol, Sergei Gibay and Yuri Lozhkin. Then it was publicly confirmed in the group “Continium”. The merged company took the name “Galychyna”, and Ivahiv entered the company’s supervisory board.

After a while, in 2014, Dmitry Leshchenko was appointed as Director General of “Galychyna”, he had previously served as Director General of the “Continium” group.

“Galychyna” was considered one of the largest dairy enterprises. In 2011 the company was the second among the largest Ukrainian producers of fermented milk drinks. Its market share in this segment was estimated at 10.5%.

In addition, the range of products included traditional milk, sour cream, butter, spread, buttermilk, milk powder and so on.