Bankruptcy proceedings against Russian fieldstone manufacturer’s ex-owner extended
MOSCOW, July 11 (RAPSI) – The Moscow Regional Commercial Court has extended a bankruptcy procedure against ex-owner of Pavlovskgranit fieldstone manufacturer’s ex-owner Sergey Poymanov for six months, according to court records.
The court has granted a motion filed by an administrative receiver, who has insisted that all measures necessary for the completion of the debtor’s asset divestiture have not been taken.
Poymanov was declared bankrupt in July 2016. Pavlovskgranit-Invest managing company was declared bankrupt 4 years earlier.
In June 2018, a court in Voronezh sentenced Poymanov to a 3-year suspended prison term, finding him guilty of abuse of office.
Reportedly, Poymanov stripped share of Pavlovskgranit-Invest managing company in the capital of PNH Limited in 2011. As a result, the managing company’s equity stake initially decreased from 100 to 40 percent, and then to 1 percent. His actions allegedly resulted in a 930-million-ruble damage (about $16 million at the current exchange rate) to a managing company.
Later, the businessman allegedly ordered the head of Pavlovskgranit-Invest to sign a contract with Rosgranit company on the sale of 150 railway vehicles worth 257.3 million rubles (about $4.5 million). However, the sum was not paid in full and Pavlovskgranit-Invest therefore lost 170 million rubles ($3 million). General damage caused to the company was estimated at 930 million rubles, according to Kommersant newspaper.
Moreover, Poymanov was involved in a criminal case over resale of a batch plant in the city of Voronezh that led to a damage amounting to 10 million rubles ($170,000).
In September, his sentence was toughened; he was ordered to be placed in prison for 3 years.