Bank seeks police aid seizing Kiev mall

THE KIEV police are to be asked to help Irish Bank Resolution Corporation, formerly Anglo Irish Bank, take control of a shopping…

THE KIEV police are to be asked to help Irish Bank Resolution Corporation, formerly Anglo Irish Bank, take control of a shopping centre given as security by the Quinn family for their debts.

The Ukraina shopping centre in Kiev, which may be worth up to €60 million, produced rental income in 2010 of $10.8 million.

The property was used as collateral against loans issued to an international structure of companies owned by the children of Seán Quinn. However, the now state-owned bank is finding it difficult to seize the centre.

A new director, Rostislav Levinzon, was appointed in October to the Ukrainian company that owns the centre but has not been able to get access to the company’s offices or exert control over the rental income.

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When Mr Levinzon approached the offices after his appointment by a shareholders’ meeting, his way was blocked by a new firm of security guards working at the mall. Meanwhile the official registration of his appointment was blocked because of legal actions.

However, his appointment has now been officially registered and Mr Levinzon said on Tuesday he is to seek the help of the police.

The decision was taken after another blocked attempt by Mr Levinzon to enter the offices, the company said in a statement.

“I am denied entry to the mall on the basis of the order by Larysa Yanez Puga, whose dismissal from the office of the director of the company has already been registered in the unified state registry of companies and private entrepreneurs,” Mr Levinzon said.

The security firm was acting on Yanez Puga’s instructions rather than his, he said, even though he had been appointed to replace her. “This is a bright example of how the law of aggressive force is used against our force of law,” he said.