Appeal to the President of Ukraine

Dear President of Ukraine, Mr Volodymyr Zelensky!

Arricano Real Estate PLC is a leading foreign investor, which during 2005-2020 attracted and invested 450 million US dollars in the development of the Ukrainian economy.

One of our main investment projects is the Sky Mall shopping center in Kyiv. Its budget was more than $140 million, whereof about $20 million was raised against the guarantees from the Estonian government.

During the period from 2010 to 2013, an organized criminal group led by Ukrainian citizens Adamovskyi A.H. and Hranovskyi O.M. raided the Sky Mall and has so far received income of more than 200 million US dollars from the activities of the shopping mall and "laundering" of illegally obtained profits.

All this was made possible solely through the use of corrupt connections, administrative resources, bribery, and many other moments inherent in the times of Yanukovych. But even after The Revolution of Dignity and the change of government, we, contrary to all expectations, did not achieve justice in the framework of criminal proceedings initiated by us.

The main reason for this was again the corruption component in the person of People's Deputy of Ukraine, head of the Sub-committee on civil, economic and administrative proceedings of the Committee of the Verkhovna Rada of Ukraine on legal policy and justice Oleksandr Hranovskyi, who is often called in the media Poroshenko's "supervisor" for the judicial system and the Prosecutor's office. At that time, the only alternative to compensation for the damage caused to us was the international investment arbitration for Ukraine in Washington. In this dynamic it is the Ukrainian state that will be obliged to pay the damage caused by Adamovskyi A.H. from the budget, totaling at least 500 million US dollars, which consists of the market value of the Sky Mall and the stolen income until the arbitration decision is made.

But your victory in the Ukrainian Presidential election in 2019 and your promise to the Estonian President, Ms Kersti Kaljulaid, to understand the current situation have once again given us hope for the restoration of justice.

Respectfully, Hillar Teder Representative of investors

On 31.10.2019, the Prosecutor General of Ukraine resumed the pre-trial investigation into the illegal acquisition of the Sky Mall shopping center, which was entrusted to 7 investigators of the State Bureau of Investigations and 12 prosecutors of the Prosecutor General’s Office of Ukraine. The result of this group of law enforcement officers work for 7 months were 3 interrogations of witnesses, refusals to us to impose an arrest on the Sky Mall, as well as the allowed fact of receiving about UAH 1 billion of credit funds secured by the Sky Mall with its new re-registration. It is an incredible fact that the Prosecutor's order for the arrest of the Sky Mall shopping center, signed by him on 23.03.2020 (and this is only 5 days after the new Prosecutor General Ms. Venediktova took office) has not yet reached the courthouse and was "lost" in the office of the Prosecutor General. All this indicates another interference in the course of the investigation by interested parties.

Mr. President, we believe in your desire to attract foreign investment to Ukraine, create a favorable investment climate and ensure the safety of investors, while removing all corruption risks. But in our case, the "business conflict" was resolved in London in the arbitration court, and according to the decisions of which all the stolen and hidden property of the Sky Mall in Ukraine should be returned to Arricano Real Estate PLC. Unfortunately, we, as foreign investors, will not be able to achieve justice for our investments and comply with the current decision of the London international arbitration court without your help.

We ask you as a guarantor of foreign investment to show the will and show all foreign investors that under your presidency, the investment climate in Ukraine has changed and there is no place for business raiding.

We sincerely hope that our appeal will be heard, and at the Ukrainian-Estonian digital event planned for autumn 2020, we will be able to Express our gratitude for your participation in resolving this protracted situation and restoring justice.


Hillar Teder

Representative of investors