How UNIGRAN went from giant to bankrupt

Until recently, UNIGRAN held leading positions in the mining market, holding licences for the extraction of crushed stone, sand and granite. 

However, the business, which once seemed invincible, is now on the verge of disappearing. Debts, frozen accounts, closed quarries and hundreds of workers without wages — that is the current reality.

From prosperity to chaos

The company's founder, Igor Naumets, who is under sanctions, claims to have been a victim of a former partner's schemes. However, Serhiy Shapran, who now controls the main assets, manages to stay in the shadows. It turns out that profitable enterprises have been transferred to shell companies, and the property has been registered in the names of third parties.

Financial dead end and an unattainable loan

The European Bank for Reconstruction and Development provided UNIGRAN with a $10 million loan, which was supposed to help develop the business. However, these funds are now effectively hanging in the air, and investors face the threat of non-repayment.

Legal manoeuvres and bankruptcy at a "laughable" price

The final blow to the company was dealt by a new structure linked to Shapran. The key licence for granite extraction was transferred to this entity, but it soon declared bankruptcy. The reason? A debt of just $5,000. This move allowed assets to be removed from creditors' control, casting doubt on the legality of the entire deal.