Dnevnik reported that Mr Konstantin Zhevago’s Vorskla Steel is preparing to join the operative management of debt ridden Bulgarian steel maker Kremikovtzi.

The report cited Mr Viktor Demyanyuk of Vorskla Steel as saying that “A meeting was scheduled on Monday with executives from Bulgargaz, power utility NEK and railway carrier BDZ to negotiate a repayment scheme for Kremikovtzi’s debts. Consultants will be hired immediately in connection with the environmental program that will have to be implemented.”

Vorskla Steel signed a tolling agreement with Kremikovtzi in July. Some of the managers of the Bulgarian company later said the agreement was signed under coercion and notified the prosecution authorities. Although the agreement was declared null and void by the managers that opposed it, Vorskla continued to supply input materials to Kremikovtzi with the management of the Bulgarian steel maker constantly delaying the recognition of the arrangement by suggesting a series of annexes.