Dutch-Owned Movida International Accuses Ukraine’s SBU of Helping Corporate Raiders

KIEV, Ukraine - Ukrainian state security agencies, in particular the Security Service of Ukraine (SBU), are deliberately placing interests associated with the Dutch company Movida International Holdings and Finance B.V. (Movida International) in Ukraine under pressure to facilitate an illegal takeover of its business in the country, the company disclosed today.

Movida International has approached authorities in the Netherlands seeking protection from the attack on its investments in Ukraine.

Movida International stated that the security agencies of Ukraine are deliberately pressuring and the SBU is directly interfering in the business of CJSC JV Krebo, in which Movida International holds the majority share, with the purpose of illegal takeover of its business.

The business of Movida International in Ukraine has been under deliberate pressure since the beginning of 2009 through several governmental authorities in Ukraine. In April, the Antitrust Committee of Ukraine accused the Closed Joint-Stock Company Ukrainian-Dutch Joint Venture Krebo (Movida International being its majority shareholder) of monopolistic inflation of prices for aviation fuel at Borispol International Airport, where CJSC JV Krebo supplies aviation fuel, an activity which forms the basis of the company’s business.

The property complex Centralized Aircraft Refueling System was built by CJSC JV Krebo in the period from 1998 to 2006 thanks to major investments by Movida International. According to the documents presented by Borispol airport, the property complex has never been and is not currently on the balance sheet of the airport. The airport itself does not have any claims to CJSC JV Krebo.

Movida commented that the SBU, based on illegal court decisions, searched the company’s offices resorting to physical force, psychological pressure on the company’s employees, banning any contacts with lawyers, and threatening arrests. Movida claims that as a consequence, one employee of the company was taken to hospital, while many employees remain demoralized and fear further searches and arrests.

Movida International asserts that illegal, so called “raider”, takeovers of enterprises are becoming more common in Ukraine.

Movida International treats such actions of the Security Service of Ukraine as interference with the company’s business, violations of the Ukrainian Constitution, and violations of Ukrainian laws on the protection of human rights and protection of foreign investments, of all international conventions in these fields ratified by Ukraine, as well as of the International Agreement on Facilitation and Mutual Protection of Foreign Investments between Ukraine and the Kingdom of the Netherlands validated by the Law of Ukraine dated February 26, 1997.

CJSC JV Krebo has on several occasions applied to the President of Ukraine, the Cabinet of Ministers of Ukraine, the Council of National Security of Ukraine requesting dismissal of the criminal case as to holding the facilities which it built. These applications have produced no tangible results or due response.

On behalf of Movida International Finance and Holdings B.V. F. W. Bootsma Director Tel: +31(0)20-578-89-20 Fax: +31(0)20-578-89-21 movidapresscenter@yahoo.com

Source: Movida International Finance and Holdings B.V.,

On behalf of Movida International Finance and Holdings B.V., F. W. Bootsma, Director, Tel: +31(0)20-578-89-20, Fax: +31(0)20-578-89-21, movidapresscenter at yahoo.com