пятница, 18 марта 2011 г.

Baturina’s business in St. Petersburg is driven to bankruptcy

http://rumafia.com/news.php?id=152

St. Petersburg Company ZAO “DSK № 3” of the holding Inteko, owned by Elena Baturina, the wife of ex-Mayor of Moscow Luzhkov, is driven to bankruptcy by the supplier of crushed stone. A lawsuit was filed in the Arbitration Court of St. Petersburg and Leningrad region.

As "Fontanka" found out, the plaintiff is OOO "The St. Petersburg Wholesale Non-Metallic Company” (‘SPONK’), it is engaged in deliveries of building materials. Lender does not indicate the amount of debt in the body of the bankruptcy declaration of ZAO DSK № 3. The Company itself does not comment on their demands prior to trial.

However, judging by the reports of the Arbitral Tribunal, this is not the first lawsuit of SPONK against DSK № 3. At the end of September 2010, the 13th Court of Appeals ruled on a dispute between the companies. The supplier of crushed stone has recovered from the Construction Company more than 200 thousand rubles for unpaid building material supply. According to the case, an agreement on cooperation was signed by the companies in May 2009. According to this document, SPONK supplied granite rubble of a specified brand to one of the building site operated by DSK № 3, but never got any money for it.

It is noteworthy that being in Appellate Court the Construction Company did not contest the fact of indebtedness to the supplier, but the amount of the late payment penalties. The court, however, did not give way to DSK № 3 and did not change the amount of punishment.

But, apparently, even the decision by a higher court instance did not make DSK № 3 pay for the supply.

As Fontanka’s sources in the property market declare, the debt to the supplier of crushed stone is not a major financial problem of the Company. It is possible that other lenders will seize this moment to present their claims to DSK № 3.

Let us recall, that as reported by "Fontanka", Elena Baturina acquired the St. Petersburg developer ZAO DSK № 3 at the beginning of 2010. Then the business community discussed the plans of business lady to turn the company into one of the leaders of the City housing market.

Also they discussed on the sidelines that Baturina had bought the company at a significant discount because of the large amount of the outstanding debt of DSK №3. (Before the recession, the cost of the plant with 10 hectares was evaluated by experts of the market at 2 billion rubles).

Company Inteko by Elena Baturina completed buying up the shares of an independent developer ZAO DSK № 3 on February 4, 2010. It was planned that a big business (Inteko is estimated at 54 billion rubles) will invest a considerable capital into the company restoring (about 4 billion) and thus will bring it to full capacity of 250 thousand square meters per year.

Let us recall that DSK № 3 enjoyed the deal with Inteko. In 2009, the company which had experienced the tough 90’s was on the brink of ruin. Urban media reported strikes organized by employees of the company as they had not been paid for months.

But as you know, now the richest woman in Russia is not feeling like investing. After the sensational resignation of the mayor of Moscow, Yuri Luzhkov, Elena Baturina has been claimed by creditors. The largest one was the brother of businesswoman - Viktor Baturin, who said that his sister owed him $ 500 million. He also said that Inteko is on the verge of bankruptcy because they do not have the funds to pay all obligations. However, the company was quick to officially refute the statement.

Source: "Fontanka.ru" on 10/14/2010

Комментариев нет:

Отправить комментарий