DZERZHINSK DESIGN INSTITUTE WAS DECLARED INSOLVENT

DZERZHINSK DESIGN INSTITUTE WAS DECLARED INSOLVENT

DZERZHINSK DESIGN INSTITUTE WAS DECLARED INSOLVENT
JSC NIIK, the largest organization in Russia designing chemical production, has become bankrupt. The Nizhny Novgorod Arbitration Court made the decision on case No. A43-26549/2021 on November 16, 2022.

Bankruptcy proceedings against the company were opened for a period of six months. Judge Yulia Trukhina appointed Svetlana Spoludennaya, a member of the Association of MSOAU "Assistance", as the bankruptcy trustee. On May 11, 2023, it must submit a report on the conduct of the insolvency procedure.

Earlier, Rusbankrot has already covered the situation in the organization, whose employees appealed to local journalists, the head of the region and the administration of the President of the Russian Federation. The purpose of the appeal was an attempt to draw the attention of officials to the situation in the bankrupt organization and to prevent further ruin and liquidation of the enterprise that has existed since 1952.

Surveillance at the enterprise was introduced in 2021. The largest creditors were Russian banks (Sberbank, VTB, Rosselkhoznadzor), demanding millions of rubles from the company. The debt to Sberbank amounted to 1 billion. The organization owes VTB more than 700 million rubles.

In 2020 , the company 's assets were estimated at 19.2 billion . At the same time, about 14.8 billion were accounts receivable. About 3.3 billion rubles were reserves and 11.4 million were intangible assets of NIIK. Oleg Kostin was the head of the organization until October 2020, and then he was replaced by Igor Yesin.

It is believed that it was during the leadership of Oleg Kostin's company in 2017 that NIIK concluded a loss-making contract with Metafrax Chemicals, involving design development for a chemical plant in the Perm Region (in Gubakha). The contract worth more than ˆ800 million was subsequently terminated. Additional work cost the company 1.5 billion, and the company itself began to go bankrupt.

Already in 2022, new shareholders of the organization applied to arbitration. In March, they demanded to recover from Oleg Kostin and the company PJSC Metafrax Chemicals an amount equal to the cost of additional work. In July, the interim manager sent the same application to the court.

Photo: Freepik


24.11.2022