AMSTRON BRICKMAKING PLANT INTRODUCED BANKRUPTCY PROCEEDINGS

The construction business of the Bagautdinov family of Bashkir entrepreneurs began to burst at the seams. Rashit Bagautdinov, who owned the Rassvet Group of Companies, which includes the Amstron brickmaking plant, was declared insolvent back in 2019. Now the republican Court of Arbitration has established supervision at the enterprise itself, the director of which was his son Timerbulat.

The initiator of the bankruptcy of the plant was the Onyx construction company. The debt of the enterprise, indicated in the materials of the court, is 2.9 million rubles. Who will be included in the register of creditors during the monitoring process will become clear closer to December 9 – the final court hearing that will be based on the monitoring results.

The enterprise is located in the village of Tolbazy (Aurgazinsky district of the republic of Bashkiria).

The plant has several quarries where different types of clay are mined for making bricks: Talalaevskoe, Sakhanovskoe and Tolbazinskoe.

The plant specializes in the production of large-format ceramic blocks produced under the Porikam brand.

The head of the plant, Timerbulat Bagautdinov, was disqualified by the court back in April. The reason was the violations of the legislation on the payment of taxes. The entrepreneur owns shares in 10 more construction companies located in the capital of Bashkiria. Salavat Yulaev Business center, which is owned by Timerbulat, is in the process of bankruptcy as well.

Krona construction company, owned by his father, went bankrupt in April 2021.

The enterprise was engaged in the construction of the Silver Stream residential complex in Ufa, but as a result, four of the seven planned multi-storey buildings were not commissioned, having left 835 equity holders without apartments.

His bankruptcy trustee revealed the signs of premeditated bankruptcy and reported this to the law enforcement agencies. If Bagautdinov’s guilt is proven, he might face a criminal sentence.