Ukrainian pay-TV satellite provider «Lybid TV» is ceasing operations. This information appeared on the company's official website. Management explains the situation as a result of force majeure economic and political circumstances that have arisen in Ukraine recently. Due to arrears to the satellite capacity lessor and other counterparties, the provider «Lybid TV» is forced to stop providing services to its subscribers and announces the impossibility of its further existence.
The expected date of broadcasting shutdown is April 9, 2014. The provider «Lybid TV» will be forced to start bankruptcy proceedings in accordance with the current legislation of Ukraine.
Receiving equipment that was used to receive «Lybid TV» channels can be used to receive open unencrypted channels.
The «Lybid TV» team assures that it has done everything possible to preserve the program service and apologizes.
Apparently, the company's management, headed by director Vyacheslav Mordachev, is not going to compensate for the losses and inconvenience caused to the owners of «Lybid TV» equipment. Since the company from the very beginning of its existence did not even deign to acquire a phone for communication with subscribers and technical support, now all responsibility and explanatory work falls on the shoulders of ordinary sellers and installers of satellite equipment.
Lybid TV started its operations on the Ukrainian satellite television market in April 2013, headed by Mr. Mordachev. The subscription fee was to be 40 UAH per year for a package of fifty Ukrainian and Russian TV channels.
General Director Vyacheslav Mordachev owns 10% of the company, the remaining 90% is owned by LLC «Tatooine», which is owned by the Cypriot offshore «Reoland Limited».