"Altai Motor Plant" completes bankruptcy proceedings

"Altai Motor Plant" completes bankruptcy proceedings

"Altai Motor Plant" completes bankruptcy proceedings
On April 21, 2022, the arbitration court made a decision to complete the stage of bankruptcy proceedings at the Altai Motor Plant (AMP JSC).  The company, the bankruptcy of which began back in 2018, turned out to be able to repay the debt in the amount of more than 253.7 million rubles.

Having sold the property and collected receivables, the company fulfilled all obligations in the register of creditors.  However, the litigation did not end there, as the tax authorities plan to challenge a number of actions of the bankruptcy trustee and recognize them as illegal.

Problems at AMP, according to experts, began in the 2000s.  Once a large enterprise, established in 1955 and producing agricultural machinery for the development of virgin lands of Kazakhstan and Siberia, was privatized.  In 2006, the plant was acquired by the Tractor Plants concern from Chuvashia.
In 2016, when the concern found itself in serious financial problems, its subsidiaries began to go bankrupt.  All organizations working for the state defense order were transferred to the management of the Rostec Corporation.
During the bankruptcy, a significant part of the property was sold at auction.  Businessman Anton Pereverzev received the building of the Motor Builders Palace of Culture, located on Titova Street, by purchasing the asset for 50.3 million rubles.  Part of the buildings, utilities and movable property of the company was bought by the “Aktiv” company from Moscow, which paid 155 million rubles.
The objects, according to the sources, were sold at a price far below their original cost.  The “Aktiv” company itself was one of the creditors with a claim for 33.2 million rubles received as a result of the assignment from the Cheboksary Aggregate Plant (ChAP PJSC).
The official bankruptcy proceedings of AMP JSC should take place at the end of May after the company is liquidated (the corresponding notification will be received a month after April 21).  However, the plant itself continues to operate, but already under the control of AMP LLC.  The beneficiary of the enterprise is the machine-building and industrial group "KTP", headed by Andrey Vodopyanov.  According to the regional ministry, AMP will produce engines for ChTP-Uraltrac tractors.

Representatives of the Federal Tax Service are still suing bankruptcy trustee Igor Protasov.  According to the tax authorities, he did not take timely measures to collect receivables for a total of 15.69 million rubles, and also did not challenge transactions in the amount of more than 12.78 million rubles.  Whether the tax service will be able to prove the facts of violation of the order of settlements with creditors is not yet clear.  Although the trial on this issue was supposed to take place on May 5, the information on it has not yet been made public.

11.05.2022