Bankruptcy proceedings against OSTCHEM Holding GmbH opened on Monday at the Salzburg Regional Court. As the Austrian association Creditreform reports, the Salzburg-based company is part of the business network of Ukrainian oligarch Dmytro Firtash, who lives in Vienna.
The GmbH in question is structured as a classic holding company whose sole business purpose is to hold and manage corporate investments. The majority shareholder (86 percent) of the holding company is a company in Cyprus that can be assigned to Firtash.
With the annexation of Crimea in 2014, control over a chemical factory located there was lost. According to the reasoning, with the loss of the plant, the operating activities of the sub-company PJSC Ukrainian Chemical Products, which is in liquidation, were also completely eliminated.
Millions of dollars in debt to the tax authorities
However, the debtor still has high tax debts to the Republic of Austria that cannot be paid. According to the Creditreform association, corporate tax of EUR 3.36 million is due for 2011 and EUR 4.21 million for 2012. The payment date would have been December 27, 2024. It is no longer possible to appeal against the relevant communications or decisions of the Federal Court of Finance.
According to the balance sheet from the 2023 financial year, there are de facto no assets, but liabilities amounting to almost 43 million euros. According to Creditreform, there is no list of creditors yet. The company will be closed and liquidated and there will be no more employees.
Source: Krone
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