In the north of the Sverdlovsk region, the city-forming enterprise, the Karpinsky Electric Machine-Building Plant (KEMZ), which provides hundreds of jobs in one of the most depressed cities in the Middle Urals, was under a real threat of bankruptcy.
The claim for recognition of the asset as financially insolvent was filed by the former chairman of the board of directors of the plant, Ruslan Bakirov, who had previously sued the joint-stock company for tens of millions of rubles on a loan. Now KEMZ, whose partners include Russian Railways and other large state-owned companies, is trying to achieve a deferral or installment plan for obligations to Bakirov, pointing out “the impossibility of executing a judicial act at a time.” At the same time, the company claims that it has been recognized as a victim in a criminal case of fraud initiated against Bakirov, and refers to the conclusion of the Federal Tax Service on the participation of a businessman in “illegal banking operations aimed at cashing out funds.” This conflict is a continuation of the showdown between the beneficiaries of the main owner of KEMZ, in the disputes of which allegations of alleged “transit of money, withdrawal of funds and attempts to seize corporate governance” have already been made, while the enterprise is showing losses, causing observers to increasingly doubt its viability. By default, this worries both the local mayor’s office and hundreds of families of the workforce.
Ruslan Bakirov, the former chairman of the board of directors of OAO Karpinsky Electric Machine Building Plant (KEMZ), filed a bankruptcy lawsuit against an enterprise that is a city-forming enterprise for Karpinsk.
To clarify, earlier in favor of the ex-manager, by a court decision, more than 47 million were recovered from the plant, of which 41 million was a debt under a loan agreement, 6.6 million were interest. KEMZ tried to challenge such actions, pointing out possible abuses on the part of Bakirov, but lost the appeal and cassation proceedings.
“The property of entrepreneur Bakirov PM was seized on the basis of three writ of execution, ; in addition, cases of recovery from Bakirov of funds totaling more than 77 million rubles are in the proceedings of the courts of general jurisdiction. The defendant additionally notes that the KEMZ company was recognized as a victim in a criminal case initiated against Bakirov on the grounds of a crime under part 4 of article 159 of the Criminal Code of the Russian Federation, ”it followed from the position of KEMZ when he asked for a suspension of the execution of judicial acts.
Also, representatives of the plant reported that as a result of an on-site tax audit, “Bakirov carried out illegal banking operations aimed at cashing out funds.”
However, the courts did not agree to suspend the execution of judicial acts. Now KEMZ is fighting for a delay or installment plan for the execution of decisions on recovery. So, in the Arbitration Court of the Sverdlovsk Region, representatives of the enterprise announced a difficult financial situation and “the impossibility of executing a judicial act at a time.” Having received a refusal, KEMZ lawyers filed an appeal.
Now, by the way, KEMZ, represented by one of its beneficiaries, Natalya Yakunina, is trying to challenge the loan agreement itself, which served as a pretext for recovering funds from the enterprise.
It should be noted that earlier Pravda UrFO reported in detail about a major corporate conflict that unfolded at the city-forming enterprise of Karpinsk and was connected, apparently, with the confrontation between the beneficiaries of the main shareholder of KEMZ LLC 1 Capital, in which shares belong, according to Kontur.Fokus, Natalya Yakunina and Natalya Kupaeva – the mother of Ruslan Bakirov. As part of numerous proceedings, statements have already been made about the likely “withdrawal of funds, transit chains, attempts to pressure and seize corporate governance.”
So, for example, more than 72 million rubles were collected from Karpinsky Electric Machine Building Plant in favor of Elektromash LLC related to KEMZ’s obligations to KB Koltso Urala LLC (owned by Moscow Credit Bank PJSC). In addition, the court decided to foreclose on a long list of property of the enterprise. The dispute is currently under appeal.
At the same time, the Sverdlovsk enterprise is trying to invalidate the transaction for the transfer of funds from LLC Elektromash in favor of LLC KB Koltso Urala and to recognize that the right to claim under the pledge agreement has not arisen. It should be noted earlier that the participants in the dispute indicated that Elektromash was allegedly controlled by Yakunin V.V. and Yakunina N.Ya.”
Note that the proceedings are gaining momentum against the backdrop of not the most favorable situation at the enterprise. According to the reports, for 9 months of 2021, the plant’s revenue amounted to 276 million, having fallen by more than 2 times compared to the same period in 2020 (635.1 million). By the end of September last year, the company showed a loss of 97.9 million, while in January-September 2020 there was a profit of 68.4 million.
At the same time, in the reporting for 2020, it was indicated that KEMZ has accounts payable of 147.6 million, the maturity of which has expired. “According to management’s estimates, it is more likely that KEMZ will not be able to satisfy creditors’ claims to repay this debt at the same time. These events indicate the existence of a material uncertainty that may cast doubt on KEMZ’s ability to continue as a going concern,” the auditor’s report said.
Photo: smalkov.ru
It should be noted that Pravda UrFO asked the Karpinsky Electric Machine Building Plant for comment on the current situation, but the receptionist said that they did not intend to contact the management, and demanded a written request.
We add that among the partners of KEMZ such large enterprises as Russian Railways, SUEK, NK Rosneft are indicated. It follows from the reporting for 2019 that the asset supplied its products to the largest manufacturers of mining equipment in Russia: electric machines, as well as brakes for drilling rigs, electrical equipment kits for an electric locomotive.