Companies have started to reject bankruptcy moratorium

While some commercial organizations and entrepreneurs are thinking how the moratorium on bankruptcy established by the government from April 1, 2022 will help them survive in a difficult financial situation, others are filing applications refusing to apply it. New statements, allowing companies to continue paying dividends, as well as, if necessary, redeem their own securities, are recorded daily on the Fedresurs website.

Among those who refused to apply the government decree adopted on March 28, 2022, was the “Voronezhsintezkauchuk” company. The joint-stock company is a production site that is part of the “Sibur” group of companies. The firm operates in the petrochemical market and appears to intend to continue to pay dividends to its shareholders.

A similar step was taken by another company of the holding, “SIBUR-Neftekhim” JSC. The company is located in the Nizhny Novgorod region. The organization posted a statement on the portal of legally significant information on April 13. Thus, from now on, the government act does not apply to the company's activities. Previously, other enterprises of the holding (for example, the Permian SIBUR-Khimprom) refused to apply a moratorium.

Another well-known company that has also rejected the moratorium is MTS.

This is not the first time the telecom operator has done this. The firm previously resorted to similar measures in 2020, when a moratorium on bankruptcies was enacted due to the pandemic. Whether the company will be involved in the buyback is not reported. But now such an opportunity has arisen.

We should recall that earlier Rusbankrot already wrote about the refusal of the moratorium of the seaside port of “Sukhodol”. It became known that the “Vyksa” metallurgical plant, located in the Nizhny Novgorod region, resorted to such a measure in early April. The company is a part of the United Metallurgical Company (UMC).

The enterprises belonging to the “Metalloinvest” group rejected the moratorium as well. In particular, “Oskolsky” Electrometallurgical Plant, “Mikhailovsky”and “Lebedinsky” Mining and Processing Plants published their statements on Fedresurs. Among the financial structures of the Russian Federation, “Saint Petersburg” Bank resorted to such a measure. The organization, which last year ranked 17th in terms of assets (data from Interfax), decided that it would not need a moratorium.