AndSource The bankruptcy trustee insists on the obligations of the foreign company. A subsidiary of UVZ – Ural Heavy Equipment – Uralvagonzavod – was involved in multibillion-dollar proceedings as part of the bankruptcy case of Ugletrans. Previously, the latter demanded a hundred million US dollars from the assets of the state corporation Rostec, but was unable to receive anything, in particular, due to a violation of the procedure for pre-trial settlement of the dispute. Now one of the major creditors of Ugletrans, VTB, is demanding billions from the bankruptcy trustee of the company and its former head and co-owner Andrei Filippov. In addition, state bankers insist on invalidating the chain of successive transactions and the subsequent restoration of large obligations of UBT-Uralvagonzavodv to Ugletrans and vice versa. Disputes transactions and the bankruptcy trustee, however, offering to restore the obligations associated with the company from Luxembourg. At the moment, as representatives of Uralvagonzavod said, part of the “coal project, which turned out to be unprofitable”, has already accumulated claims for more than ten billion, a significant share of which falls on Gazprombank.
VTB Bank, as part of the bankruptcy case of Ugletrans LLC, filed an application to declare the debtor's transactions invalid and insists on challenging the sequential chain of operations: an agreement on the assignment of rights of claims concluded between JSC UBT-Uralvagonzavod (100% owned by NPK Uralvagonzavod SC “Rostec”) and LLC “GLOBAL RISOSIS AND INDUSTRIES S.A.R.L.” (Luxembourg) and unilateral offsets.
As a consequence, the bankers demand to restore the debt of UBT-Uralvagonzavod to Ugletrans under a guarantee agreement in the amount of 4.444 billion rubles and to restore the debt of Ugletrans to UBT -Uralvagonzavod” under an agreement on the assignment of rights for 4.533 billion rubles.
Earlier, an application was filed by the bankruptcy trustee of Ugletrans, in which he also insists on invalidating the offsets, but proposes to restore the multi-billion dollar debt of the foreign company to the debtor, and, accordingly, Ugletrans to GLOBAL RISOSIS AND INDUSTRIES S.A.R.L. .»
Ugletrans is also interesting in that it previously filed a lawsuit to recover from the subsidiary of Uralvagonzavod debt under a loan agreement in the amount of 132.9 million US dollars. JSC Gazprombank was then involved in the proceedings as a third party. However, the Moscow Arbitration Court left this application without consideration, indicating that “the pre-trial claim procedure for settling the dispute was not observed.”
Now VTB, in particular, demands to recognize as illegal the inaction of the bankruptcy trustee of Ugletrans Khvorostinin, expressed in non-compliance with the claim procedure in a lawsuit against JSC UBT-Uralvagonzavod, and jointly and severally recover from the arbitrator and the former head of the debtor Andrey Filippov the above amount, which, as indicated in the materials of the court, is equivalent to 10.8 billion rubles.
Note that when the demands of Ugletrans against UBT-Uralvagonzavod first appeared, the UVZ press service previously stated that the conflict relations arose before entry of the corporation into the control loop of the Rostec Group of Companies, namely “during the implementation of a coal project that turned out to be unprofitable.”
“According to available information, the Ugletrans company is in a difficult financial situation and has all the signs of insolvency. Thus, Ugletrans is trying to resolve its financial problems at the expense of the UVZ group. At the same time, UBT-Uralvagonzavod has multibillion-dollar financial claims against Ugletrans, a representative of UVZ noted at the time, adding that a counterclaim could be filed as part of protecting the rights and interests of the group. However, UVZ has not yet filed any claims in the Ugletrans bankruptcy case.
At the end of last year, Ugletrans was declared bankrupt. At the time of the decision, his debt, included in the register of creditors' claims, amounted to more than 11.5 billion rubles.
formed as a result of a series of transactions involving UVZ-Logistic. Mentioned in the materials and Global Resources and Industries S.a.r.l.
In addition, the register included claims from VTB for 2.1 billion, and claims from the Zhengzhou GSO Group (PRC) for a total of more than 400 million.