Court battles over Igor Eremeev's inheritance

Following the sudden death in 2015 of one of Ukraine's most influential businessmen, Igor Eremeev, his business empire, "Continuum," found itself at the centre of complex legal disputes. This group of companies, which includes WOG, one of Ukraine's largest petrol station chains, became the subject of corporate intrigues that have stretched on for years.

Heirs sidelined

Igor Eremeev's death left his family — his widow and two children — facing a difficult task: fighting for a share in a business valued at hundreds of millions of dollars. However, the deceased's partners, Stepan Ivakhiv and Serhiy Lagur, managed to use complex corporate schemes to remove 25% of WOG Group's shares from the heirs' control.

The fate of the business became the subject of prolonged proceedings in both Ukrainian and international courts — from Cyprus to the British Virgin Islands. This story vividly illustrates the problems of corporate governance in Ukraine, particularly when it comes to major assets.

Supreme Court ruling

In autumn 2024, the Supreme Court of Ukraine issued a decision capable of changing the course of this saga. The court annulled a property division agreement concluded between Ivakhiv and his ex-wife in 2021. According to Eremeev's widow, this agreement was used to remove "Continuum" assets from the estate.

The judges remanded the case for a retrial, highlighting procedural violations committed during previous proceedings. This decision marked an interim victory for the Eremeev family, but the final resolution of the conflict remains uncertain.

Who was Igor Eremeev?

Igor Eremeev was a prominent figure in Ukrainian business and politics. Born in the village of Ostrozets, he graduated from the Rivne National University of Water Management and Protection. In 1992, at the age of 24, Eremeev, together with his classmate Stepan Ivakhiv, founded the company "Continuum," which started with small petrol stations.

By the 2000s, "Continuum" had become one of the leading fuel groups in Eastern Europe, owning 224 companies in various sectors — from oil refining to the dairy industry. Eremeev was elected as a People's Deputy of Ukraine three times and was known as an influential politician and businessman.

His death, resulting from a fall from a horse, shocked business and political circles. The absence of a will gave rise to prolonged court battles over control of his legacy.

Disputed trust and offshore schemes

A key element of the conflict became the R&S Trust, registered in the British Virgin Islands. After Eremeev's death, management of this trust passed to his partners — Lagur and Ivakhiv. Eremeev's widow claims that the trust was created without her family's knowledge, and its activities effectively excluded the heirs from the asset management process.

The situation intensified in 2017 when shareholder Petro Dymynskyi sold his stake to Lagur and Ivakhiv. However, according to the company's charter, the right of first refusal belonged to Eremeev's company. Yet decisions were made without consulting the trust's beneficiaries, which fuelled suspicions of manipulation.

New stage of the struggle

In 2021, Ivakhiv transferred his share of assets to his former wife as part of the divorce proceedings. This step, according to Eremeev's widow, was aimed at excluding the heirs from the list of claimants to "Continuum" assets.

Having examined numerous violations, the Supreme Court pointed to the contradictory nature of Ivakhiv's actions and remanded the case for a new review. The court noted that the asset transfer agreement was accompanied by serious procedural violations, and its authenticity is questionable.

Who controls the empire now?

To date, control over WOG Group rests with Serhiy Lagur and Stepan Ivakhiv's ex-wife. Both businessmen left Ukraine after the start of the full-scale war. According to sources, Lagur resides in Greece, while Ivakhiv lives in Cyprus and Dubai.

Based on materials from RBC-Ukraine