UKRAINE – It seems that another problem for Odessa might be caused for hosting the 2017 Eurovision Song Contest. Deposit Guarantee Fund seems to be ready to call for audio of assets of JSC Imeksbank which includes the proposed venue of Odessa, Chornomorets. This is caused because the bank has been given the period 2011-2014 a series of bad loans and the bank suffers of a stress test loss of 8,6 billion UAH.
“Imeksbank”, owned by Ukrainian MP Leonid Klimov and arena Chornomorets seems to worth now 7,8 billion UAH while the construction of the arena cost 3 billion UAH (1,1 of which were given by the state). Chornomorets, which is mentioned to all 40 bad loans as a security will be lined up for sale in order to satisfy he creditors.
Due to a scandal with the bad loans to MP Klimov who’s now in Austria, Deposit Guarantee Fund called for creditors to assess the value of the securities in which the proposed venue for 2017 Eurovision Song Contest is also included. Head of the legal department of the FC Fyodor Yakima stated that if they add it in the auction it will endanger the hosting bid of the city.
Potential sale will definitely cause problem in hosting the 2017 Eurovision Song Contest in Odessa, if the city is chosen.