UK Court Rules Ukrainian Pharma Corporation’s Hostile Takeover Illegal: Key Details.

Ruling by the High Court of England and Wales

According to Espreso.tv: The High Court of England and Wales has issued a decision in case No. BL-2026-000102 favoring Francombe Ventures Limited, a company that fell victim to fraud in December 2025. The court confirmed that a change of control carried out through forged documents was unlawful and ordered the defendants to cover legal costs, estimated at several hundred thousand British pounds.

Case Background

Francombe Ventures Limited holds a 100% stake in Arterium LTD and a 94% stake in Arterium Corporation. During the investigation, the court determined that the powers of attorney used to alter control over these companies were invalid and falsified. Individuals implicated in this fraudulent scheme include:

• Stanislav Stepchenko
• Danylo Rodivilov
• Yelyzaveta Stepchenko

Olena Kachalova was unlawfully appointed as the head of both Arterium LTD and Arterium Corporation. Kostyantyn Dyachuk, the former owner of ATIS PHARMA, was also mentioned in this context. ATIS PHARMA has ties to SKY-DEVELOPMENT LLC, which may point to further dimensions of the case. By issuing this ruling, the High Court underscored the severity of the offense and established the liability of those involved for the damages caused.

This case highlights the critical need to combat financial crimes and safeguard corporate ownership rights.

The verdict could set an important precedent for other companies facing similar situations, demonstrating that illegal actions will not go unpunished. Ongoing investigations may also uncover additional activities by those linked to the fraud, potentially impacting the broader pharmaceutical sector.