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We know everything about bankruptcy
28/11/2024
Thursday
THIS DAY IN HISTORY:
28 November 
1970 Norway voted against joining the European Union in a referendum.
1970 The American automatic station "Mariner-4" was launched to Mars.
1970 The oldest monastery in the capital, the Chudov Monastery, was founded in Moscow.
28 November
1970 Norway voted against joining the European Union in a referendum.
1970 The American automatic station "Mariner-4" was launched to Mars.
1970 The oldest monastery in the capital, the Chudov Monastery, was founded in Moscow.
LPR coke processing plant went bankrupt
A large coke-chemical enterprise in Alchevsk went bankrupt. The decision was taken by the economic court of the Luhansk region, which also launched a procedure for the liquidation of the company.
The initiative to declare the plant insolvent was previously announced by the Indumet S.A. Company from Luxembourg. It managed to achieve recognition of two debts of Alchevsk Coke processing plant for a total debt of UAH 26.57 billion (about $ 1 billion).
According to Finbalance media, the total amount of claims against the plant is UAH 52.6 billion ($ 2 billion). The company's debt register included debts to Margit Holdings Limited (UAH 15.14 billion) and a Cypriot company Indumet Ltd. (UAH 9.53 billion). Another debt to Indumet in the amount of UAH 13.6 billion is secured by a pledge of the property of Alchevsk Coke processing plant.
After the military conflict that began in 2014, the plant found itself next to the front line on the territory of the LPR. The blockade of the eastern territories of Ukraine, established in 2017, led to a deterioration in the state of affairs at the enterprise. The plant was completely shut down, and the owner corporation reported that it had lost control of the plant.
It is worth noting that the coke processing plant from Alchevsk is the main supplier of fuel for the furnaces of another large enterprise, the Alchevsk Metallurgical Plant (AMP). The economic court began its bankruptcy case in May 2021.
The initiative to declare the plant insolvent was previously announced by the Indumet S.A. Company from Luxembourg. It managed to achieve recognition of two debts of Alchevsk Coke processing plant for a total debt of UAH 26.57 billion (about $ 1 billion).
According to Finbalance media, the total amount of claims against the plant is UAH 52.6 billion ($ 2 billion). The company's debt register included debts to Margit Holdings Limited (UAH 15.14 billion) and a Cypriot company Indumet Ltd. (UAH 9.53 billion). Another debt to Indumet in the amount of UAH 13.6 billion is secured by a pledge of the property of Alchevsk Coke processing plant.
Until recently, the plant in Alchevsk was one of the three largest coke producers in Ukraine.
The plant was founded in the late 1920s for the needs of Soviet industrialization. In the mid-1990s, the Ukrainian authorities decided to privatize the plant.After the military conflict that began in 2014, the plant found itself next to the front line on the territory of the LPR. The blockade of the eastern territories of Ukraine, established in 2017, led to a deterioration in the state of affairs at the enterprise. The plant was completely shut down, and the owner corporation reported that it had lost control of the plant.
It is worth noting that the coke processing plant from Alchevsk is the main supplier of fuel for the furnaces of another large enterprise, the Alchevsk Metallurgical Plant (AMP). The economic court began its bankruptcy case in May 2021.
The initiator of the insolvency, demanding payment of the debt in the amount of 4.9 billion hryvnia, was the Eridius company.
AMP came under the control of the Vneshtorgservice company from the South Ossetia. The experts consider it to be affiliated with the businessman Sergei Kurchenko, who left Ukraine. 16.09.2021
