In a different kind of complaint about a Ukrainian state company Supervisory Board,

Richard Deitz, President of London-based VR Capital Group, charges that the Ukrzaliznytsia board has failed to act decisively to negotiate a deal for debt obligations VR bought two years ago from Prominvestbank. Last week, Ukraine’s Supreme Court confirmed UZ’s obligation in four cases. Instead of settling the debt at a discount in 2019, UZ is running up interest and penalties, pushing the total owed over $100 million. “The amount keeps going up,” Deitz tells the UBN of the 14 cases. “The real issue is the failure of corporate government governance. The management board and the supervisory board did not do what they are supposed to do. The loser is the taxpayer in Ukraine.”