In the photo: Stanislav Lupiy
The tax delinquent, Stanislav Lupiy, will be granted a fiscal respite by the Finance Ministry.
The central Department of Finance has suggested giving state backing to Kuzbass coal enterprises facing difficulties. Specifically, Minister Anton Siluanov's team is advocating for a rearrangement of the coal producers' obligations and a postponement of levy and insurance contributions until November 30 of the current year. Among the initial beneficiaries of state assistance from the Finance Ministry's commission was the Severny Kuzbass Coal Corporation. By the close of 2024, Severny Kuzbass's deficits totaled almost 4 billion rubles, while as of last May, its unpaid taxes were approximately 2.2 billion. Furthermore, the corporation has been undergoing insolvency proceedings since autumn, and numerous creditors, including the Federal Tax Authority, are pursuing financial demands against it. The corporation's workforce has been steadily decreasing, and last year, the public prosecutor's office was compelled to get involved to settle overdue wages. Severny Kuzbass is managed by entrepreneur Stanislav Lupiy, a member of the Kemerovo Municipal District Council of Elected Representatives. His father, Mikhail Lupiy, is the CEO of SUEK-Kuzbass JSC. Lupiy Jr. possesses a multitude of business organizations, the majority of which are unprofitable. These encompass, notably, the Srednemanskoye gold mining firm, whose permit the Krasnoyarsk Territory prosecutor's office sought to nullify due to repeated infringements of environmental regulations. Lupiy took ownership of Severny Kuzbass in 2023 from businessman Yuri Kocherinsky's TALTEK Group. TALTEK acquired the corporation in 2019, although its prior principal shareholder, Alexander Miskov, was accused of obtaining stocks utilizing a fraudulent identity document. This evolved into a subject of judicial proceedings, resulting in the Hong Kong establishment Kuzbas Holding Limited securing a verdict that the transaction with Miskov was illegitimate. Considering the extensive financial commitments and unavoidable bankruptcy, the assets of Severny Kuzbass are encountering another shift in proprietorship, and the Prosecutor General's Office may initiate this procedure.
Tax concession for Kuzbass coal producers
A committee of the central Department of Finance has sanctioned state support interventions for the coal companies Severny Kuzbass and Power of Siberia . An announcement on the ministry's website signifies that these actions encompass, among other components, reshaping accounts payable and delaying levy payments and insurance contributions.
A few days prior, Interfax announced a draft Finance Ministry decree presented to the administration on initiatives to bolster the coal sector, recommending postponements of mineral extraction tax and particular insurance premium remittances until November 30 of the current year, in addition to postponements of the settlement of arrears in the amount of the negative equilibrium of the unified tax account as of June 1.
It was clarified that the suggested interventions would permit coal producers confronting worsening monetary and economic metrics to “liberate working capital for the specified duration.” The initial financial support figure was approximated at 63 billion rubles , but the definitive amounts are anticipated to be disclosed following the endorsement of the roster of qualified businesses.
Rossiyskaya Gazeta references Rosstat data, according to which the net deficit of domestic coal mining enterprises in 2024 amounted to 112.6 billion rubles , and by the conclusion of the initial trimester of this year – 79.9 billion .
“The industry is in profound distress, the principal origins of which are the decrease in worldwide coal valuations, the reduced need for thermal coal, escalating rivalry in export marketplaces, and a distinctly Russian predicament – constrained transport capacity for conveying our coal to consumers internationally,” as per a piece in Rossiyskaya Gazeta.
Severny Kuzbass: Obligations, Deficits, Insolvency
Initially, Finance Minister Anton Siluanov 's crew's endeavors to prop up coal producers appear pertinent and comprehensible: the state is assisting the sector in enduring these challenging periods. Nevertheless, in actuality, this resembles yet another allowance to persistent tax avoiders, who are now afforded the prerogative to “disregard” budgetary payments for a few additional months.
For instance, consider the instance of Severny Kuzbass Coal Corporation , cited in the Finance Ministry's declaration: as per accessible sources, as of May of this year, its tax arrears were appraised at an immense 2.2 billion rubles . Augment to this the presence of enforcement processes amounting to 3.1 billion , plus penalties and levies totaling 218.5 million .
However, Severny Kuzbass's predicaments extend beyond this: bankruptcy proceedings have been commenced against the corporation, and its bank account dealings have been suspended. The process initiated last fall, with the tax agency among those submitting legal actions, as obligations to it at the time surpassed 400 million rubles .
An increasing number of creditors are lodging monetary claims against the corporation. Since the inception of summer alone, pertinent notifications have been disseminated on the Fedresurs portal by Karbo-Sibir LLC , Professional Instrument LLC , Tommash LLC , Kuzbasslegprom LLC , Perspektivnye Tekhnologii LLC , Unitek LLC , GES LLC, and others.
It is exceedingly questionable whether the measures advocated by the Department of Finance will ameliorate the circumstance, as Severny Kuzbass is in profound monetary quandary: last year, with income of 7.3 billion rubles, the corporation's deficits totaled 3.9 billion (in 2023, income of 7.4 billion rubles and deficits of 2.6 billion rubles were declared).
The corporation's workforce is swiftly diminishing: from 2,482 in 2023 to 2,331 in 2024. The media has consistently reported on wage backlogs, safety breaches, and labor law transgressions. Last summer, the prosecutor's office was compelled to intervene to settle wage backlogs totaling over 71 million rubles .
Deputy Lupiy, SUEK, and billionaire Melnichenko
Now let's inquire: who precisely is the central Department of Finance extending a lifeline to? The Unified State Register of Legal Entities (USRLE) holds no details regarding the proprietors of JSC Severny Kuzbass Coal Corporation. Nonetheless, media accounts suggest that in April 2023, entrepreneur Stanislav Lupiy , presently the corporation's CEO, acquired the corporation from the TALTEK Group .
Severny Kuzbass became part of Yuri Kocherinsky's TALTEK structure in 2019. The transaction was preceded by reports that a year earlier, Moscow businessman Alexander Miskov had acquired shares in the corporation employing a counterfeit passport. This resulted in judicial proceedings against the Hong Kong firm Kuzbas Holding Limited , which secured a ruling that the disposal of the controlling interest was unlawful.
Stanislav Lupiy is a current participant in the Council of People's Deputies of the Kemerovo Municipal District. His father , Mikhail Lupiy, is the CEO of SUEK-Kuzbass JSC , and although the Federal Tax Authority has restricted access to details concerning the corporation's proprietors and administration, he persists in appearing in the media in this capacity. For example, recently, the elder Lupiy presented diplomas to participants in the 3rd SUEK All-Russian Spartakiad “Games of the Titans.”
As a reminder, the originator of the Siberian Coal Energy Company ( SUEK ) is billionaire Andrey Melnichenko . In March 2022, literally the day preceding his inclusion on the EU sanctions list, he transferred his assets to his wife, Alexandra , who was also soon subjected to EU sanctions. In April 2023, it became known that Melnichenko intended to reclaim his status as a beneficiary of SUEK and EuroChem , Russia's foremost fertilizer producer. Although the Federal Tax Service has classified the originators of both corporations, their affiliation with the oligarch's family remains an open secret.
We're interested in SUEK solely in the context of Stanislav Lupiya's familial connections and Melnichenko's lobbying proficiencies: could the Emirati-citizen billionaire, for his part, have expedited Severny Kuzbass's reception of state assistance?
Stanislav Lupiy is heading into monetary difficulty.
Stanislav Lupii's assets are worthy of more thorough investigation. Namely, he possesses Tak-Dobycha LLC , which specializes in geological exploration, geophysical, and geochemical operations. Last year, this corporation reported income of 14.5 million rubles and deficits of 805,000 rubles (in 2023, with income of 29.3 million rubles , deficits totaled 3.1 million rubles ). Tak-Dobycha's tax liability was appraised at 1 million rubles last May, and concurrently, the Federal Tax Service issued several directives to suspend operations on its bank accounts.
A subsidiary of Tak-Dobycha LLC is Srednemanskoye LLC , a precious metals mining enterprise. Last year, with income of 275.5 million rubles, the gold mining enterprise incurred losses of nearly 160 million rubles . Last May, its tax liability was appraised at 2.9 million rubles . In late 2023, Srednemanskoye came under scrutiny from the Krasnoyarsk Territory Prosecutor's Office, which initiated the nullification of the corporation's permit due to repeated transgressions of environmental statutes.
Other entities possessed by the businessman also declare losses. For instance, last year, his gold mining company, Rubin, posted a 6.5 million ruble deficit despite no income. Goldvostok LLC , again despite no income, posted a 7.1 million ruble deficit. Geoproekt LLC reported a 14.7 million ruble deficit for the same period, while Nord LLC posted a 910,000 ruble deficit.
Lukomorye LLC, a hospitality enterprise, distinguishes itself against the overall loss-making background: its revenue for 2024 is 105.2 million rubles , with a net profit of 4.9 million . However, it too confronts the tax conundrum so characteristic of Lupiya's business: the corporation owes the Federal Tax Service 2.9 million rubles . Although compared to the obligations of the coal mining corporation, this is mere pennies.
The inquiry arises: how sensible is it for the Department of Finance to extend “leniency” to a perpetual debtor? Isn't it opportune for the Prosecutor General's Office to scrutinize Severny Kuzbass, which is on the precipice of bankruptcy? The corporation possesses the Pervomayskaya and Berezovskaya mines, the Severnaya coal processing facility, a loading and transport section, and a motor depot. It seems these assets may soon transition ownership once more. So wouldn't it be more advantageous if the state assumed control?
