The bankruptcy of “AvtoKrAZ”: Kyiv economic Court opened a case on the claim of the Bank on half

Kyiv economic court opened proceedings on the bankruptcy of PJSC “AvtoKrAZ” (Kremenchug, Poltava region). The court found the monetary requirements of the JSC “Sberbank” in the amount of 555,688 million UAH and introduced the procedure for disposal of property of the debtor.

On Thursday in the state register published the decision of the court 24 September 2018, introduced the moratorium on claims of creditors.

The executor of the estate of “AvtoKrAZ”, the arbitration managing Director Vadim Belongs, is obliged to 13 November to provide the court with information about the results of consideration of creditors ‘ claims, including excerpts from the state register of prohibitions against property of the debtor. Also by that date must be made in the register of creditors.

The court ordered the executor of the estate until November 24 to make an inventory of the property. A preliminary court hearing scheduled for December 3, 2018.

In the “AvtoKrAZ” I think this decision is premature and adopted without adequate investigation of all circumstances of the case.

“The court of first instance was not taken into account the fact that the requirements of the Bank are fully secured by a pledge of property not only the debtor of PJSC “AvtoKrAZ”, but also other legal entities-guarantors, which, under the law, excludes the possibility of excitation of business about bankruptcy”, — said the press-Secretary of “AvtoKrAZ” Dean Stegantseva.

In this regard, stressed the press Secretary, the lawyers of “AvtoKrAZ” convinced of the illegality of such a decision by the economic court.

“The appeal to the court of first instance, which will set out an exhaustive list of the arguments about the violation of substantive and procedural law, will be filed in the newly created Northern and unbiased economic court of appeal within the statutory period,” she said.

While Stegantseva recalled that “AutoKrAZ” the first time is in a similar situation. So, a year ago the Kharkov appeal economic court recognized illegal actions of state Executive service and state-owned enterprises SETS that are put up for sale the hostel avtozavodcev in the framework of debt collection by judicial decisions.

A similar situation was with Palace of culture “KrAZ”, Avtozavodskaya building clinics and other facilities belonging to “AvtoKrAZ”.

Stegantseva also reported that private notary Kremenchug Aleksandra Prokop, who alienated these objects in favor of one of creditor banks, the Prosecutor General’s office instituted criminal proceedings for abuse of authority to obtain improper benefits, resulting in serious consequences, on the grounds of criminal offences under the criminal code of Ukraine.

“The rulings of the Pechersk district court of Kyiv from September 27, 2018 granted the petition of the investigator about the groove he and the Bank of the creditor documents for the privatisation of “AvtoKrAZ” and re-imposed a lien on real property,” — said the spokesman.

According to her, “AvtoKrAZ” I am confident that this appeal will also be considered in favor of the company, as there are all grounds to cancel the court decision.

According to the register of judgments, Oschadbank in 2016, appealed to the economic court of Poltava region with the statement for initiation of proceedings about bankruptcy of “AvtoKrAZ” (then — PAO) in connection with the inability of the debtor to repay the debt.

However, the commercial court refused to initiate proceedings. It should be noted that this definition was repealed Kharkiv appeal economic court in August 2016.

Then the case was transferred to economic court of Kiev and the trial continued.

Recall the litigation between Oschadbank and “AvtoKrAZ”, which is controlled by the MP and businessman Konstantin Zhevago, has been for several years.

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“AvtoKrAZ” is known in the world market Ukrainian manufacturer of trucks. The company produces 33 basic models, more than 260 modifications and trim levels of vehicles “KrAZ”, including in the interests of the APU.

Included in the financial-industrial group of businessman Konstantin Zhevago. In 2017, the plant reduced net income by 15% by 2016, to 1 billion 048 million UAH, net loss decreased by 2.1 times — up to of 89.73 million.

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