On February 24, the Poltava Regional Commercial Court opened bankruptcy proceedings against Poltava Mining and Processing Plant. This was announced in a statement by its parent company, Ferrexpo, on the London Stock Exchange.
The bankruptcy was initiated by Maxi Capital Group, which won a 4.7-billion UAH judgment against Poltava Mining and Processing Plant in January 2025. The case is pending before the Supreme Court.
“The court in Poltava opened bankruptcy proceedings without a final decision by the Supreme Court,” Ferrexpo reported.
Although the bankruptcy case did not halt operations at Poltava Mining and Processing Plant, Ferrexpo shares plummeted 28% following the announcement. (URP)