Photo: The agreement between Stolyar and Mykytas has been made public
On August 21, ZN.UA published the text of an agreement between Vadym Stolar and Maksym Mykytas, which, according to the publication, formed the basis of the “Themis” case. The document provided for a joint business venture with an equal division of projects and profits, and the parties stipulated multi-million investments and loans.
ZN.UA obtained from its own sources the text of that very “memorandum of understanding” between Vadym Stolar and Maksym Mykytas, which formed the basis of the high-profile “Themis” case involving the NABU and the SAPO. At first glance, these appear to be ordinary business agreements between two partners dividing up influence, shares, future investments, and profits. However, all the “projects” envisaged by this collaboration were to be carried out in violation of the law, through the exertion of influence on judges, notaries, officials, and others. Stolar and Mykytas were literally negotiating a business built on a criminal foundation. According to ZN.UA, the controversial aspects of this very agreement were discussed at Bankova Street as recently as this spring and summer.
Two provisions from the “annexes” to the agreement—which the investigation has already made public—confirm that this is indeed the document in question: the return to Mykytas’s ownership of the land plot under the dismantled Building No. 4 of the “Arsenal” plant (Knyaziv Ostrozkykh St., 8) and the premises of the former central office of “Ukrbud” (25 Yevhen Chykalenko St.).
The document itself reads more like the articles of incorporation for a joint venture than an agreement between parties to criminal proceedings. In the preamble, Stolar (“Party 1”) and Mykyta (“Party 2”) state that all projects listed in the agreement belong to them in equal shares—50% each. They also share equally in the efforts to implement these projects and, most importantly, in the future profits from the sale or other use of the assets. The parties have also agreed to make any decisions regarding property, corporate rights, real estate, or equipment covered by the agreement exclusively jointly.
Funding for new projects is also shared equally: if one partner invests their own money in a project unilaterally, the other is obligated to reimburse half of the expenses. However, any future project requires prior agreement on administrative, operational, and managerial matters.
A separate and telling clause in the agreement concerns the partnership’s “financials” as of the date of signing. According to the document, Stolar had already invested $1,423,947 in joint projects at that time and had also provided Mykytas with a personal loan of an additional $816,523. Mykitas acknowledges and confirms both amounts in the document. In response, Mykitas declares his own investments in the projects totaling $1,010,000—a figure that Stolar, in turn, confirms. In addition, the parties also mention a certain “old reconciliation” between them, the balance of which had not yet been calculated at the time of signing and was not included in the amounts listed: the partners agreed to finalize it and calculate the final debt by March 1, 2025.
The agreement also specifies a unique “reporting” requirement: starting November 1, 2024, Mykytas was to provide Stolar with management reports on the progress of the projects on a monthly basis, by the 10th of the following month, and to maintain all records of expenses and revenues on a “cash basis.”
The most “business-like” part of the agreement appears to be the order in which proceeds from the sale or completion of projects are distributed. First, the funds are used to cover expenses already incurred by the parties, in proportion to how much each invested. If one partner financed 70% of the expenses and the other 30%, then the reimbursement of funds occurs in the same proportion until the expenses are balanced. Second, the funds are directed toward financing the further implementation of the projects. Only third is the remaining amount divided between Stolar and Mykyta as profit: in cash or assets.
Source: ZN.UA
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