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9
November
2015

Parliamentarian suffers through financial bankruptcy

Volgograd Region Arbitration Court has postponed, for one month, the consideration of the claim made by Promsvyazbank Bank against Tatiana Mikheeva, the wife of Oleg Mikheev, State Duma representative from the Fair Russia Party. The bank is seeking to recognize the parliamentarian’s wife as bankrupt. Two cases with similar requirements were previously launched against Mr. Mikheev himself. In one of these cases, the application has already been withdrawn by the plaintiff (private individual), and the consideration of the second case was also postponed. Oleg Mikheev told Kommersant that “in any case, this procedure will take place”, which he considers a “normal economic activity”, and expressed confidence that going through a bankruptcy will not hurt his future political career.

Kommersant (Volgograd)
9
November
2015

A bankrupt man: the last hope

“Money” continues to follow the story of a Moscow family, caught in a no-win situation with a foreign currency mortgage. Our heroes are thinking – should they turn to the courts with a lawsuit against the bank – in order to avoid bankruptcy.

Kommersant. Money
29
October
2015

LUKOIL extracted debt

Structures of Gazprom and Lukoil, which are the main creditors of the municipal enterprise Volgograd Communal Services, which had declared bankruptcy, have announced that there were procedural violations in the launching of bankruptcy procedure, and warned about the possible negative consequences due to this process during the heating season in Volgograd. At city hall, they claimed the opposite, calling this bankruptcy a “financial restructuring”. According to observers, in the course of the bankruptcy, the authorities are going to get rid of part of the accumulated debts of this municipal unitary enterprise. What is more, the city administration is not hiding its plans for the subsequent transfer of the property of Volgograd Communal Services into long-term management by a private company. Mikhail Zimin, general director of LUKOIL-Volgogradenergo LLC believes that the authorities hope to repeat “the former scenarios of getting rid of debts”, at a time when they could have provided financial assistance to Volgograd Communal Services, and thus prevented it from going into bankruptcy.

Kommersant (Volgograd)
27
October
2015

Bankruptcy or salvation: who will win the battle for Transaero?

News about Transaero appears almost every day. Sberbank filed a lawsuit seeking bankruptcy. S7 is buying the company. Transaero is prohibited from flying. Looking at this series of events, it is necessary to understand the main thing: around the sinking carrier, two groups have formed with diametrically opposed interests. Some want to save the company – not out of altruism, but hoping at least to partially recover their debts. Others would benefit from a bankruptcy. The first group is composed of the numerous creditors – from suppliers of on-board blankets to fuel companies, while the second group, in fact, is represented by two players, but these are “heavyweights” – Aeroflot and Sberbank.
Slon
13
October
2015

Meeting place cannot be changed

In early October, the public discussion on amendments to Administrative Offences Code ended. The draft bill provides for new types of offenses and penalties for medical and pharmaceutical workers. Finally this document has set penalties for doctors communicating with representatives of medical companies, although these fines amount to no more than 20,000 roubles. However, not all the penalties are so frivolous. For some other offences, Roszdravnadzor plans to levy fines of up to 5,000,000 roubles or suspend the activities of a company for three months.
Pharmaceutical Bulletin
13
October
2015

Natalia Sergunina: The capital city has the necessary reserves to increase industrial capacity two-fold

Moscow City Duma adopted a bill on investment policy and support of investment activity, which is aimed at attracting more investments into industrial production.
ZELAO.RU
8
October
2015

“Rostov port” clinging to the land

The Rostov waterfront development project is on hold because the owners of the land – the shareholders of the Rostov Port Group of Companies – do not wish to transfer, without compensation, to the city the plot of land located at 30 Beregovaya Street, on which the port is located, and where they want to create a public recreation area by 2018. The company’s representatives are asking to exchange the 11.6 hectares of land in the central district for 15 hectares in the Zarechnaya Industrial Zone. The municipality insists on the acquisition of the land via auction, while the Regional Ministry of Property claims that it is possible to either exchange sites or purchase the land without holding an auction.
Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects
Kommersant (Rostov)
7
October
2015

Airport will be checked for profitability

A former minority shareholder of the Volgograd International Airport OJSC is disputing, in Arbitration Court, the transfer into lease of land with an area of almost 11,000 sqm and two airport terminal buildings. The plaintiff believes this transaction is unprofitable for shareholders and has already carried out a judicial examination. However, observers note that here we are talking about the typical redistribution of assets within a group of companies, and the minority shareholder’s actions look like common blackmail.
Volgograd Pravda.Ru
9
November
2015

“Pervomaysk” Investors secured by the Constitution

Russian Constitutional Court ruled on the complaints made by depositors of the Pervomaysky Bank, whose funds were stolen by Larisa Golodnova, manager of the Gelendzhiksky Branch. The Court explained that the Bank cannot refuse to return moneys to depositors, by claiming as a defence the illegal actions of their employees, if the depositors acted reasonably and in good faith. The damage that Larisa Golodnova caused depositors amounted to 387.7 million roubles, stolen from 184 victims, whose previous attempts to get moneys returned through the courts failed. Now, on the basis of the decision of the Constitutional Court, these victims might seek a review of this case, and demand to have their deposits returned.

Kommersant (Rostov)
30
October
2015

Bankruptcy of Transaero: five important figures

As of 26 October, Transaero Airlines lost its air operator certificate, that is, the right to fly. The last flight took place on the night of 25–26 October on the Moscow – Hong Kong route. Passengers, who hold previously purchased tickets, can use them to fly on Aeroflot, which is honouring these tickets.

Slon
29
October
2015

It turned out that the director had an invalid passport

“... The director had an invalid passport. I will explain. We decided to open an account in a new bank, but they refused us. The teller checked the director’s passport number on the website of FMS Russia, and it turned out that this document was listed as being lost or stolen eight years ago! In fact, this was a valid passport. The director did not lose it, and did not report it lost or stolen. Moreover, information about this document is recorded in the Unified State Register of Legal Entities, because the director has several companies. We received loans amounting to millions of roubles, and no one ever questioned the validity of the passport. How can this passport be made valid once more?..” From a letter of chief accountant Olga Paulina, city of Moscow.

Сollective of authors, VEGAS LEX
Accounting. Taxes. Law
22
October
2015

“Greenhouse” conditions

In Ulyanovsk Region, before the end of the year, on the basis of three rather successful state agribusiness enterprises, they are planning to create a vertically integrated agricultural holding in order to increase efficiency, investment attractiveness and credit opportunities for the business. The parliamentary opposition intends to carefully examine this project, “so that it does not turn out to be a simplified version of privatization”. Experts doubt the possibility that privatization is on the way, but note that for this risky-for-agriculture zone, to which this region belongs, such a holding presents an optimal model of risk reduction.

Сollective of authors, VEGAS LEX
Kommersant (Samara)
13
October
2015

Interesting business

As a result of the consideration of court case No. A67-1548 / 2014, the Arbitration Court of Tomsk Region ordered that FOG LLC should pay Tomsk Energy Retail Company OJSC the sum of 1,369,646.31 roubles as outstanding debt for electricity, and dismissed the former company’s counter-claim for damages caused by the illegal introduction of a limited power mode. The Arbitration Court of the West Siberian District overturned the decisions of the lower courts, and sent the case back for review to the court of first instance.

Evgeniy Rodin, Partner, Head of "Industry and Resources"
Litigation in West Siberia
9
October
2015

Deputy defaulted

Former leader of the Bashkir Branch of the Liberal Democratic Party of Russia, Ivan Sukharev, is facing bankruptcy.

Kommersant (Ufa)
7
October
2015

Oleg Mikheev shown the way out of the credit slavery

Together, several creditors of a State Duma representative of A Fair Russia political party, Oleg Mikheev, submitted to the Arbitration Court of the Volgograd Region claims against him personally and against his wife. Seeking to have the representative declared bankrupt are Zarina LLC and a private individual, while the claim against Tatiana Mikheeva was launched by Promsvyazbank and MOLmant LLC. This is yet one more round of credit disputes and criminal cases, the first of which began in 2007.
Volgograd Pravda.Ru
5
October
2015

Should those on the Forbes List fear personal bankruptcy

The law on personal bankruptcy, which recently came into force, has already touched a number of very wealthy Russians on the Forbes List. Pravo.Ru has published a survey of lawyers about the prospects for this category of cases.
Pravo.ru
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