Veres president Ivan Nadein commented on the information about the opening of bankruptcy proceedings against the club by the Rivne Oblast Commercial Court.
Ivan Nadein"There is no bankruptcy. This is a normal process that will not affect the life of the club. It is a globally accepted procedure for settling accounts payable. Football is a loss-making business. The vast majority of Ukrainian clubs are unprofitable.
"Veres is a public joint-stock company that submits its audited accounts in accordance with international standards. We undergo a comprehensive audit of our financial statements. Over the three years of the public joint-stock company's operation, we have indeed incurred some debt. We have built fields. Indeed, we have debts to the contractor. But it is all settled.
The only legal mechanism is the procedure we have entered. This is not a bankruptcy declaration. It is a procedure that will be legally settled by a court decision. This is recovery and restoration. We will emerge from this procedure debt-free and this will be a positive signal to our shareholders. It will be a sign that we are able to deal with debts openly and not solve this issue under the table. I am confident that the value of our shares on the stock exchange will only increase," said Nadein.
