Economic Court of Kharkiv Region Approves the Plan of “Kharkiv Tractor Plant” Reorganization

Economic Court of Kharkiv Region Approves the Plan of “Kharkiv Tractor Plant” Reorganization

The Commercial Court of Kharkiv Region approved the plan of “Kharkiv Tractor Plant” reorganization. According to the spokesperson of the plant, the decision was made today, on July 14.

Before the hearing of the case which, after two adjournments, began today at 14:15, the members of the “Kharkiv Tractor Plant” personnel gathered for a picket near the walls of the Economic Court of Kharkiv Region. About 250 employees participated in the picket.

They held Ukrainian national flags and banners with slogans “We will not allow to ruin «Kharkiv Tractor Plant»”, “Our children want to eat”, “Help save HTZ” and also chanted “Unblock our accounts”, “Let us work”, “Give us back our money”, “HTZ is Kharkiv”.

According to the spokesperson, the picketers were opposing the sale of the plant assets to pay the debt to creditors and demanded from the court to approve the plan of pre-trial reorganization adopted at the enterprise on June 9. 

The picket was also visited by the Acting CEO of “Kharkiv Tractor Plant” Viacheslav Shevchenko together wit the representatives of the new owner of the enterprise – the members of the executive board of DCH group. 

According to the CEO of the plant, the enterprise is still not working and all its accounts are blocked, but after the last picket of Kharkiv SSU Administration, held on June 16, law enforcement officers ceased their inspections. Shevchenko also informed that besides taxes, the plant owes its workers about 30 million hryvnas in wages.

“We care for our personnel. I want our people to start working, to receive their wages — at least what they have earned. I want them to work at their plant, to produce goods, to pay taxes to the state. We do have orders, but we can’t work because all our accounts are blocked. We can’t buy the goods, the accessory equipment we need, pay our suppliers”, Shevchenko informed.

On June 9, the meeting of HTZ creditors reportedly decided to start the procedure of pre-trial reorganization.

According to HTZ spokesperson, “Kharkiv Tractor Plant” has not been operating since March 2016 after the actions of law-enforcement agencies “interpreted by the management of the enterprise as unprecedented pressure”. The activity of enterprise, including the possibility of carrying out financial operations, is blocked.

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