The authors of the journalistic investigation in which the President of Ukraine Petro Poroshenko is accused of tax evasion, filed a biased position of the law firm Avellum. This is stated in the statement of the legal company.

5 November 2017 were published a series of materials Classtwo. Nfo, which contains information about Avellum and its cooperation with the law firm Appleby. “In our view, these materials contain manipulative assertions, unsubstantiated by facts, but not lead an objective reflection of the company’s position set forth in response to the request Classtwo. Nfo.

Lawyers say that a true priority for the establishment of an international holding structure for the Corporation Roshen was to ensure the sale of the Corporation Roshen in the case, if it is possible in accordance with the terms and conditions. Therefore, the structure of which was discussed with Appleby, has signs of the preparation of the Corporation Roshen for sale.

Separate ways to sell the Corporation Roshen that were considered could not be implemented without an international holding structure, said in a statement. In particular, we are talking about the implementation of the initial public offering (IPO) of the Corporation Roshen on the foreign exchange or the sale of an international public company. “Given the size of this transaction, that such methods were most likely. Information about this was given in our response to the request of journalists Classtwo. Nfo from 27 Oct 2017”, – stated in Avellum.

Also in law firms, emphasize that the international holding structure, designed for the transaction for the sale of Roshen, was to ensure the avoidance of double taxation with the aim that all taxes are fully paid in Ukraine, not abroad.

“In the case of a sale of the Corporation Roshen all funds would be transferred to the final owner in Ukraine, and declared one of them would be taxes paid. Just as today, all taxes of the Corporation Roshen pays and will continue to pay in Ukraine. That’s what we said in response Classtwo. Nfo from 27 Oct 2017. Journalists completely ignored this important information and did not cover it in the story. We believe this fact, as well as the conclusion and the title of the article about the purpose of creation of structure, manipulative and biased,” say the lawyers.

It is also noted that as to sell the Corporation Roshen was impossible due to commercial circumstances, it was decided to transfer to a Corporation in a “blind trust” in accordance with international standards. Manager of a blind trust confirmed that the trust complies with international standards.

“In connection with the transfer of the Corporation Roshen in trust by a reputable international banking group Rothschild, Petro Poroshenko has no power to exercise control over the process of finding buyers or negotiation process for the sale of Roshen Corporation or any of its parts. This question is entirely within the competence and powers of the Rothschild,” – said in a statement.

The lawyers of Avellum claim that without creating an international holding structure, the transfer of the Corporation Roshen in a “blind trust” would be impossible. “Ukraine is not a party to the Hague Convention 1985 on the law applicable to trusts and their recognition, so the transfer of the Corporation Roshen in the trust without creating an international corporate structure would be void from the point of view of Ukrainian law”, – said in a statement.

In Avellum noted that the company’s international holding structure to the transfer of the Corporation Roshen in a “blind trust” did not have Bank accounts. “Any claim of violation of currency legislation or the transfer of cash from Ukraine in the establishment of international holding structures are baseless speculation,” said the lawyers.

“We also wanted to emphasize that the denial of the law firm Appleby from participation in the project was related to aggression of Russian Federation against Ukraine and the willingness of the President of Ukraine to give a harsh response to illegal actions of military units of the Russian Federation. This decision, made by the firm of Appleby, cannot be regarded as evidence of caution in regard to the transaction itself. AVELLUM provides legal services to the Corporation Roshen in 2013, and we have no warnings regarding the representation of the Corporation Roshen, Poroshenko Petro Oleksiyovych or Trustee of a blind trust, especially considering transparency, compliance with all legislative requirements and excellent business reputation from our clients”, – summed up in law firms.

In its investigation Classtwo. Nfo came to the conclusion that the purpose of the offshore President Petro Poroshenko could be the minimization of taxes, and no plans to transfer Roshen “blind trust”. Investigators believe that the documents tell, that immediately after his election as President of Ukraine, lawyers were looking for an offshore island for Corporation, use the term “tax purposes”(tax purposes), which could mean that the alleged main purpose of the restructuring of the Corporation was tax optimization, and not the sale of Roshen.

We will remind, on the eve of the 400 journalists from 67 countries simultaneously published incriminating materials on offshore and financial mismanagement of politicians and officials at various levels within the project Paradise Papers or Documents to the Paradise Islands. Information published on the website of the International consortium of investigative journalism.




Lawyers Poroshenko said on new offshore investigation 06.11.2017

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