The corporate conflict surrounding "Kation Invest" LLC, which is developing the Tereblya salt deposit in the Zakarpattia region, has taken a new turn. Another hearing of the Northern Economic Court of Appeal, where shareholder disputes are being reviewed, has been postponed until November 11, 2026. The situation around the company remains tense due to a lack of consensus between investors and management.
Director's Absence and Questions for Investors
At the hearing, the interests of the "ECHO" fund were represented by lawyer Vitaliy Kulakov and Valentin Kondratyev. Notably, Sergiy Kondratyev, who holds the position of director, did not appear at the hearing despite previous invitations sent by him to media representatives. Lawyer Kulakov, for his part, claimed that journalists had failed to show up, which caused confusion, as press representatives were present in the hall waiting for a comment from company management.
Conflict Core and Parties' Claims
Case No. 910/15970/25 concerns the legitimacy of Sergiy Kondratyev's position. In November 2025, the supervisory board dismissed him due to claims regarding financial and economic activities, but the Ministry of Justice later reinstated him. The Kondratyevs describe these actions as an attempted corporate raid. On the other hand, investors, including "YUKON" fund, which invested about 160 million UAH, claim that access to documentation is being blocked and profit distribution remains opaque.
Contradictory Data
There are serious discrepancies in the assessment of the company's activities. While Sergiy Kondratyev claimed plans to produce 450,000 tons of salt per year, actual figures show stagnation: production was halted as early as March 2024 after extracting about 6,000 tons. Furthermore, pricing raises questions: according to media reports, salt was sold to state contractors at 7,050 UAH per ton, which is 2.5 times higher than the prices the director mentioned in public statements. Law enforcement agencies continue an investigation within the framework of case No. 12023070000000371 into the possible concealment of production volumes.
Consequences for Energy Security
The Tereblya deposit was considered a strategic import substitution project for "Artemsol". However, protracted legal battles and a lack of unity among owners threaten supply stability. While the company's management changes through court orders, the salt market in Ukraine continues to experience a shortage, and potential production capacities remain unrealized.
