Why Tigipko cannot complete the Borivazh port deal

The story of Sergey Tigipko's purchase of the "Borivazh" port has once again attracted public attention. The deal involving this asset is at risk due to a court injunction issued following a lawsuit filed by former partner of Ihor Kolomoyskyi and Hennadiy Boholiubov, Oleksiy Martynov.

Court injunction on the deal

Oleksiy Martynov spoke about the situation via his social media channels. According to him, Tigipko's attempt to finalise the acquisition of the port was blocked by a court ruling.

«Приняв участие в сомнительном аукционе по продаже порта «Бориваж» с единственным участником — собой, он (Тигипко) и ПриватБанк пока не могут завершить сделку. Суд запретил ее по моему иску. В нынешних условиях публичное обсуждение мешает им двигаться дальше, ведь государство несет убытки на 13 миллиардов гривен» (By participating in a dubious auction for the sale of the "Borivazh" port with himself as the sole participant, he (Tigipko) and PrivatBank are currently unable to complete the deal. The court banned it based on my lawsuit. Under current conditions, public discussion hinders their progress, as the state is suffering losses of 13 billion hryvnia), Martynov emphasised.

Deal context: what happened?

The "Borivazh" port, located in Odesa Oblast, was collateral for a 3.5 billion hryvnia loan provided by PrivatBank. However, on 23 December, the loan was sold for 2 billion hryvnia to a company linked to Sergey Tigipko. This asset, valued at 15 billion hryvnia, is now set to transfer to the new owner.

It is important to note that the port previously belonged to entities linked to Ihor Kolomoyskyi and Hennadiy Boholiubov. The sale of this asset for half the loan amount raised questions about the legality and transparency of the deal, as well as concerns that this was an attempt to save the asset from seizure by the London court, which is hearing the PrivatBank case.

Questions for Tigipko as a public figure

Oleksiy Martynov emphasises that Sergey Tigipko, being a well-known banker, must answer a series of uncomfortable questions. This concerns not only the essence of the deal but also its impact on the clients of his TAScombank.

«Как публичный банкир, он не сможет избежать объяснений. Это не просто мой вопрос, это запрос от всего украинского общества, которое уже доказало, что его нельзя подкупить дешевыми новогодними шоу или угощениями» (As a public banker, he will not be able to avoid explanations. This is not just my question, it is a demand from the entire Ukrainian society, which has already proven that it cannot be bribed with cheap New Year's shows or treats), Martynov stated.

Impact on reputation and public opinion

The situation surrounding the "Borivazh" port has become a vivid example of contradictions in Ukraine's business environment. The transparency and legality of such deals are questioned by both market participants and the general public. For Sergey Tigipko, known for his activities in the banking sector, this case could become a serious blow to his reputation.

Questions remain open: how exactly was the auction conducted, why was the asset's value undervalued, and what consequences await the state, which has lost a significant sum? Answers to these questions are necessary not only to protect state interests but also to restore trust in the Ukrainian business environment.