The Ministry of Justice of Ukraine has filed a second lawsuit with the High Anti-Corruption Court (HACC) against Russian businessman Mikhail Shelkov and his PJSC Corporation VSMPO-AVISMA, seeking to recover in favor of the state the claims of companies controlled by Shelkov against Demurinsky Mining and Processing Plant LLC, which was nationalized under the first lawsuit and is headed for major privatization.

"Mikhail Shelkov is a Russian billionaire, former head of the investment division of the state company Rostec, and owner of a controlling stake in VSMPO-AVISMA, the world's largest producer of titanium for the aerospace industry," the Ministry of Justice said in a press release on its website.

According to the press release, the lawsuit involves claims under loan agreements, credit agreements, and supply contracts, as well as the recovery in favor of the state of funds from halted banking operations of Corporation VSMPO-AVISMA.

Previously, the Ministry of Justice filed a similar second lawsuit against Russian oligarchs Arkady Rotenberg and his son, as well as their business partners Alexander Ponomarenko and Alexander Skorobogatko, to clear debts from the also nationalized and planned for major privatization Kyiv shopping center Ocean Plaza.

As reported, on January 23, 2023, the HACC had already imposed a sanction on Shelkov in the form of the recovery in favor of the state of 100% of the share capital of VSMPO TITAN Ukraine LLC, the movable and immovable property of the company, and the funds in its bank accounts. Subsequently, the appellate chamber of the HACC on February 3, 2023, in this case, recovered in favor of the state 100% of the share capital of Ukrainian companies Tai-Minerals LLC, Investagro LLC, Demurinsky Mining and Processing Plant, as well as movable and immovable property and funds in the bank accounts of this plant.

Ukraine's State Property Fund (SPF) last week conducted a public presentation of the Large-Scale Privatization – 2024 project and named the top five facilities: the four-star Hotel Ukraine located downtown Kyiv and Kyiv's Ocean Plaza shopping mall, the country's largest titanium ore producer United Mining and Chemical Company (UMCC), the Demurinsky Mining and Processing Plant for titanium and zirconium extraction, and the aerated concrete producer Aeroc.