Official statement of the Supervisory Board of JSC Galychpharm regarding raider interference in the company's activities

On July 30, 2025, the Commercial Court of Lviv Region decided to remove the executive management and executive director of JSC Galychpharm from the exercise of their powers, assigning the responsibilities for managing the enterprise to the arbitration manager.

This decision is another procedural step within the framework of groundless bankruptcy proceedings initiated by IC Sky-Development LLC, which recently bought out the alleged debt obligations of JSC Galychpharm, none of which has been confirmed by a court decision that has entered into legal force. Therefore, just as the very opening of this bankruptcy proceedings of the enterprise, all subsequent actions within it are obviously groundless and illegal.

There was no legal basis for opening this bankruptcy case, so all subsequent procedural actions arising from it - including the decision to remove the executive management - are illegal and look like a raider attack on the enterprise, where the raiders are helped by the court of first instance, making knowingly illegal decisions.

The Supervisory Board of JSC Galychpharm declares its categorical disagreement with the decision of the Commercial Court of Lviv Region, which removed the executive management company from performing its duties and transferred management functions to the arbitration manager.

According to Article 40 of the Code of Ukraine on Bankruptcy Procedures, the court may remove the executive body in the event of proven facts of obstruction of the arbitration manager, improper preservation of the debtor's property, or violation of the rights of creditors or the debtor. However, none of these violations was committed by the management of JSC Galychpharm. On the contrary, during the entire time the