OREL PROMCEOLIT WAS DECLARED BANKRUPT

The economy of the Orel region is faced with another case of insolvency. We are talking about the Promceolit enterprise, which was officially declared bankrupt by the decision of the arbitration. The reason for this was a statement from the company "Tseotreidresurs" from Moscow, demanding debt collection in the amount of 89.3 million rubles.

The bankruptcy procedure is implemented through bankruptcy proceedings, which will last six months. The court appointed Evgeny Mikhailov as the manager. It is noteworthy that the arbitration refused to carry out the stage of financial rehabilitation, immediately proceeding to this stage. 

The conflict between counterparties has a long history. Initially, the debt was formed back in 2013 on the basis of a marketing agreement, and its final amount has been repeatedly disputed. The monitoring stage that the company went through did not bring results either – it was not possible to resolve the dispute. 

Despite the current situation, Promceolit remains a significant asset for the municipality. The company, founded in 2001, has a processing capacity of approximately 50,000 tons of zeolites per year. Together with JSC Melor, it is developing the Khotynetsky field, where the volume of proven reserves reaches 7.3 million tons. The company accounts for about 40% of the total industrial production in the district. 

At the same time, the company and its assets have been involved in corporate litigation for many years. It is known from court materials that the plant and Melor had previously participated in a chain of disputed transactions. This led to the transfer of shares to a foreign structure and a significant decrease in revenue. A number of episodes of that story are still the subject of legal disputes: some lawsuits have been discontinued, others are ongoing. 

Lawyers point out that the very fact of bankruptcy does not necessarily imply a work stoppage. If the production remains profitable, the bankruptcy trustee usually maintains its functioning. This allows you to save the value of assets and comply with licensing regulations. Experts believe that although the situation will have a serious impact on the local economy, there is no threat to the industry as a whole. In the future, the company may acquire a new owner or be restructured after completing all procedures. 

 

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