Court registers three petitions for major shipyard bankruptcy
ST. PETERSBURG, January 11 - RAPSI. The court has registered three bankruptcy applications filed against the Baltiysky Zavod shipbuilder, according to the Supreme Commercial Court's website.
The court registered the bankruptcy petition filed by Sberbank on December 29. Similar applications had earlier been filed by the Moscow-based Russian Steel and Mining Company (RGMK) and the Ukrainian REFMA refrigeration equipment manufacturer.
The court has yet to set the hearing date.
It was reported earlier in December that Baltiysky Zavod, which has no owner and is burdened with a 15 billion ruble debt, will go bankrupt.
Deputy Prime Minister Dmitry Kozak said on October 12 that the Central Bank transferred the Baltiysky Zavod's pledged shares to the United Industrial Corporation (UIC) for trust management. Baltiysky Zavod, owned by former Senator Sergei Pugachyov's UIC, along with Severnaya Verf and Aisberg, was pledged as a security for the 32 billion ruble ($1 billion) loan granted by the Central Bank to the bankrupt Mezhprombank, also owned by Pugachyov.
The Moscow Commercial Court has recently sided with the Central Bank and levied execution on 88.32 percent of shares in Baltiysky Zavod. The appraisal value is 220 ruble per share.
The Baltiysky Zavod builds icebreakers, naval and cargo ships. It also manufactures engineering products and energy equipment and supplies nonferrous and core-mold castings.