ADVANQ Successfully Defends Pulp Mill Print in AMCU Dispute, Securing Cancellation of UAH 21,327,320 in Fines

02/ 06/ 2026

Listen to online Stop   ADVANQ successfully represented Pulp Mill Print in a court dispute with the Antimonopoly Committee of Ukraine and secured the cancellation of fines totaling UAH 21,327,320. Case Background In 2019, Pulp Mill Print, one of Ukraine’s leading printing complexes, acquired assets of a bankrupt enterprise at an auction. The acquired property included movable and immovable assets, as well as shares in another company. In 2021, the Antimonopoly Committee of Ukraine initiated two proceedings concerning a potential breach of competition law related to the acquisition of assets and shares in the charter capital. Later, in 2024, the agreements concluded following the auction were declared invalid. Nevertheless, the AMCU took the position that a violation had occurred and imposed two fines on the client totaling UAH 21.3 million for failure to obtain prior merger clearance. Defense Strategy ADVANQ supported the client throughout all stages of the dispute – from proceedings before the AMCU to court challenges of its decisions. The defense strategy was based on three key arguments: At the time of acquisition, the transaction did not qualify as a “concentration” under the interpretation applied by the AMCU. The client did not, in fact, acquire control over the company whose shares were purchased, which is a key requirement for establishing a concentration. The auction agreements were declared invalid and therefore did not produce legal effects in terms of acquiring assets or corporate rights. A consistent legal position, a comprehensive approach, and adaptation to changes in factual circumstances enabled an effective defense strategy and a favorable outcome for the client. Outcome The Commercial Court of Kyiv fully upheld ADVANQ’s position and declared both AMCU decisions invalid. On 21 May 2026, following appellate review, the judgment entered into legal force, and the fines totaling UAH 21,327,320 were cancelled. The project was handled by a team led by Partner Oleh Tarasiuk and Managing Partner Sergii Vasylyshyn.

ADVANQ successfully represented Pulp Mill Print in a court dispute with the Antimonopoly Committee of Ukraine and secured the cancellation of fines totaling UAH 21,327,320.

Case Background

In 2019, Pulp Mill Print, one of Ukraine’s leading printing complexes, acquired assets of a bankrupt enterprise at an auction. The acquired property included movable and immovable assets, as well as shares in another company.

In 2021, the Antimonopoly Committee of Ukraine initiated two proceedings concerning a potential breach of competition law related to the acquisition of assets and shares in the charter capital.

Later, in 2024, the agreements concluded following the auction were declared invalid. Nevertheless, the AMCU took the position that a violation had occurred and imposed two fines on the client totaling UAH 21.3 million for failure to obtain prior merger clearance.

Defense Strategy

ADVANQ supported the client throughout all stages of the dispute – from proceedings before the AMCU to court challenges of its decisions.

The defense strategy was based on three key arguments:

1. At the time of acquisition, the transaction did not qualify as a “concentration” under the interpretation applied by the AMCU.
2. The client did not, in fact, acquire control over the company whose shares were purchased, which is a key requirement for establishing a concentration.
3. The auction agreements were declared invalid and therefore did not produce legal effects in terms of acquiring assets or corporate rights.

A consistent legal position, a comprehensive approach, and adaptation to changes in factual circumstances enabled an effective defense strategy and a favorable outcome for the client.

Outcome

The Commercial Court of Kyiv fully upheld ADVANQ’s position and declared both AMCU decisions invalid. On 21 May 2026, following appellate review, the judgment entered into legal force, and the fines totaling UAH 21,327,320 were cancelled.

The project was handled by a team led by Partner Oleh Tarasiuk and Managing Partner Sergii Vasylyshyn.