Assets of Konti Production Association seized by state

VORONEZH. May 17 (Interfax) - Russia's Prosecutor General's Office won a lawsuit in the Leninsky District Court of Kursk on Thursday to seize the assets of Donetsk-based Konti Production Association for the state, the press service of the regional court system reported.

"The May 16, 2024 decision of the Leninsky District Court of the city of Kursk satisfied the lawsuit of the Prosecutor General's Office of the RF. Forfeited to the Russian Federation are the assets of PJSC Konti Production Association; the intellectual property (patents, trademarks) and money held in the bank accounts of TOR LLC; and money held in the bank accounts of Donbass Konditer LLC," the press release said.

The court ruling is subject to immediate execution, the release said.

In November 2023, the Leninsky District Court of Kursk ruled in favor of the Prosecutor General's Office in its lawsuit to seize the assets of JSC Konti-Rus, along with 100% of shares in Candymax LLC, Merletto Capital LLC and Merletto CC.

Konti Group, which was founded in 1997, owned several factories in Ukraine and two in Kursk, Russia. The company's key brands are Bonjour, Amour, Do!, Super-Kontik, Zolotaya Liliya, Esfero, Timi, Dzhek, Zhivinka, Merletto, Shokotel and Konti Life.

Promt LLC, the sole owner of which is Konti-Rus board member Alexander Sidelin, has acted as Konti-Rus's management company since May 2022.

Konti-Rus does not disclose its current shareholders. Its report for 2022 lists Beaufon Investments Limited and Epiate Limited as entities that have the right to control 20% to 25% of its shares.