SIEMENS ENERGY'S "DAUGHTER" WAS DECLARED BANKRUPT IN RUSSIA

On August 14, 2024, the arbitration court in St. Petersburg declared the bankruptcy of Neftegaz and Energetika (NiE LLC). The organization has entered bankruptcy proceedings (case no. A56-25656/2024). The initiator of the process was Datawork, which filed for insolvency of NiE in March this year. The lawsuit was accepted by the court for consideration only on July 25.

NiE is a subsidiary of the German concern Siemens Energy. Back in February, the company announced its plans to start bankruptcy. As Rusbankrot reported, the corresponding decision was made by the founders and published on Fedresource. In the message, the organization indicated that it would be able to resume work if supplies were resumed and restrictive measures were lifted.

The organization cited problems with profitability, the seizure of bank accounts and problems with the supply of components from abroad. With revenue of 6.4 billion in 2023, NiE generated about 1.4 billion in losses.

In July 2024, the company again notified creditors of its intention to initiate bankruptcy proceedings. But in the end, the court accepted the claim from the company "Datavork", which leased the premises to the defendant for storage. As Kommersant suggests, such a development of events could be the result of the intractability of a number of creditors who were not satisfied with the peaceful development of the conflict.

Recall that the parent company Siemens Energy, which was engaged in the production of equipment for power plants, announced its withdrawal from the Russian market back in 2022. The reason was the sanctions imposed by the EU and the United States. The supply of equipment has been stopped. By the beginning of 2024, there were several dozen concern-related structures in Russia, many of which were liquidated, bankrupted or changed owners.