VTB initiates bankruptcy of the company that controls plastic processor Ebis LLC
State Bank VTB goes bankrupt Global Recycling Solutions LLC. This company controls OOO “Ebis”, which is a plastics processor. Earlier, the company “Ebis” placed a bonded loan for 1.3 billion rubles. It was defaulted.
Ebis is an operator for plastic recycling and production of raw materials for polymer production. The company entered the domestic plastic waste recycling market in 2015. The company owns 8 production lines. And Global Recycling Solutions LLC is controlled by Inna Kochemarova.
Problems due to tax audit
On August 12, 2022, Ebis made a technical default on the payment of the 8th bond coupon for 4.8 million rubles. The reason was the continuing technical limitations. On the 6th coupon, the company was able to make partial payments. Despite this, Ebis LLC announced its intention to promptly pay off coupon debt in order to prevent a real default on its obligations. The problems of the Ebis company are related to the inability to transfer funds to NSD.
The Ebis company initiated a tax audit before re-registration of a legal entity. The verification process has been delayed. In addition, the firm had unsettled amounts of tax charges. In this regard, the Federal Tax Service of Russia imposed partial restrictions on the company’s bank accounts with a requirement to repay all accrued amounts. Part of the amounts from the accounts of Ebis LLC were written off almost immediately.
Representatives of the company “Ebis” stated that they do not agree with the position of the Federal Tax Service of Russia in connection with the presence of overpayments for certain types of taxes. The company planned to use working capital, shareholders’ funds, as well as borrowed funds for refinancing to pay off coupon debt. At the same time, in July last year, Ebis LLC was excluded from the register of small and medium-sized businesses. Then the Arbitration Court of the City of Moscow accepted a statement of claim against Ebis LLC and Neumark LLC for the recovery of debt in the amount of 43.9 million rubles in favor of an individual entrepreneur.