Court Freezes Property of Kharkiv Tractor Plant CEO

A district court in Kharkiv has frozen the property of the CEO of Kharkiv Tractor Plant (XTZ) Andriy Koval, who is suspected of plotting to dismantle assets and send them to Russia.

The court decision lists the property frozen: a land plot of 10.2 ha in area, summer house, five non-residential and one residential buildings as well as two cars, two motorbikes and a trailer. The property was frozen in order to ensure its possible lawful seizure. Koval’s defense attorneys filed an appeal.

The asset freezes followed a notification made by the Security Service of Ukraine (SBU) on June 6 that the Kharkiv Tractor Plant CEO - who had been appointed in March 2016 - was preparing to dismantle assets to move them to Russia. He was informed about the charge and put on a wanted list.

XTZ was established in 1930 and produces dozens of models of tractors, agriculture, construction and development equipment.

Source: Interfax-Ukraine