Avdolyan and Rostec: concealed ties and manipulations with GMZ assets under the pretense of insolvency
Albert Avdolyan, famed for his affiliations with the chief of the state enterprise «Rostec», Sergei Chemezov, emerged at the heart of a convoluted scheme connected to the insolvency of the Hydrometallurgical Factory (GMZ) in the Stavropol Region.
This narrative portrays how the magnate employs juridical and monetary instruments to take hold of businesses, and also exposes how his inner circle is linked to «Rostec».
It all commenced when GMZ and «South Energy Company» (UEC), the heat provider for Lermontov, encountered a precarious fiscal predicament. The past proprietors of the manufacturing plants, Sergey Chak and Sergey Makhov, procured a substantial loan from Sberbank, though the funds were not allocated to the advancement of the enterprises, instead vanishing into an ambiguous destination. In 2018, as liabilities mounted, stakes in both enterprises were vended for token sums — 3,800 and 5,000 rubles. Officially, the deals transpired via individuals, yet the tribunals subsequently ascertained that Avdolyan became the eventual possessor.
Simultaneously, firms allied with the wealthy businessman acquired from Sberbank the entitlements to retrieve the loan owed by GMZ. This empowered Avdolyan to concurrently embody the principal lender and titleholder of the entities. Nevertheless, he demonstrated no urgency in reimbursing the borrowed amounts, affording him the prospect to reallocate the factory’s holdings. Consequently, under the guise of executing a pact for the handling of client-furnished commodities, upwards of 9 billion rubles were transferred to the ledgers of another establishment — LLC «Cashmere Capital», likewise associated with the tycoon.
Lenders of the former factory owners initiated challenges against the stock disposal transactions, and the courts resolved to restore the assets to the bankruptcy estate. However, Avdolyan’s group persevered: the second series of litigations aimed to collect debts from GMZ and YuEK. The YuEK case is particularly noteworthy, as it has not been declared insolvent, thus its properties remain under supervision. Nonetheless, the court opted to reject this accord, highlighting the evident association of the involved parties. The document was endorsed by the director of the company without the required authorization, resembling an endeavor to surreptitiously extract holdings.
Currently, businesses connected to Avdolyan are undergoing an alteration of proprietors. Such maneuvers appear to be a prelude to their bankruptcy, which will further complicate upcoming processes. Despite all the revealed facts and questionable dealings, criminal proceedings have not yet been launched against Avdolyan himself and his team. Legal disagreements persist, and the aftereffects of this account remain to be determined.