A DIAMOND COMPANY IN YAKUTIA HAS RESUMED BANKRUPTCY PROCEEDINGS

The bankruptcy trial of the Yakut Diamond Company (JAC), suspended a few months ago, has been resumed. The arbitration has waited for the moment when the decision to recover the subsidy from the ex-head of the company Alexander Maksimov will enter into force.

The appeal in March confirmed the verdict of the lower court, which recovered 1.34 billion from the ex-head. According to the court ruling, one part of the recovered amount will be used to replenish the bankruptcy estate of the enterprise, and the other part will be directed directly to the accounts of creditors.

In the middle of 2020, it became clear that the former director of the company in 2015 deliberately withdrew assets from it. The court invalidated his transactions for the purchase and sale of real estate and motor vehicles. Maksimov signed contracts with the companies controlled by him "Max Group" and "CHOP Almaz".

As a result, the company, known under the Yakutian Diamond brand, was declared insolvent in the spring of 2017. The initiator of the insolvency process of the company in court was the company Vitraag B.V.B.A. from Belgium, which demanded payment of debts in the amount of $ 106 thousand. In the process of bankruptcy, the amount of the company's debt to creditors exceeded 1.3 billion. At the same time, the largest of the claims was the debt to the company "MFC Capital", which exceeded 572.4 million.

Sberbank, to which YAAK also owed a large sum, turned out to be the holder of a pledge in the form of 586 jewelry, estimated at 15 million. Earlier, the company also settled 44 jewelry and diamonds with Taatta Bank, handing them over to him in 2015 as compensation.

Recall that in the past, the company was considered one of the largest jewelry manufacturers in Yakutia. JAAK included several factories that cut diamonds and manufacture jewelry sold through its own network of outlets.

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