UFA INFRASTRUCTURE DEVELOPMENT FUND DECLARED BANKRUPT

On May 18, 2021, the Arbitration Court of Bashkortostan made a decision in case No. А07-19445 / 2020, recognizing the Fund for the Development of Infrastructure of the Republican Capital (FDIRC) insolvent. The initiative for bankruptcy of the organization came from the lighting company MT Electro - the claim was accepted by the court back in August 2020.

This January, FDIRC was taken under surveillance. As a result, the organization went bankrupt with a debt in the amount of 12,659,218.39 rubles.

As noted in the materials of the case, over the past five months, the company's management did not take any actions and attempts to improve the financial state, take loans or pay off the debts. Interim manager Yulia Khannanova, representing the Mercury SRO BT, came to the conclusion that it makes no sense to restore the company's solvency - it is necessary to file for bankruptcy and start bankruptcy proceedings. 

Now the arrests imposed on the property of the organization will be lifted, and the results of the tender procedures will become clear on November 22.

We should recall that FDIRC is an organization created in 2012 by three city municipal unitary enterprises (Gorzelenkhoz, Ufavodokanal, Ufagorsvet). The company was conceived as a foundation for venture capital investments, but in fact, it managed real estate and was engaged in management consulting. 

A marker of the effectiveness of the activities of the company is the fact that last year, one of the founders was ‘caught’ for the violations of the law in the amount of 5.8 billion rubles.

The funds were withdrawn through affiliated structures registered in the name of relatives of the former head of the Ufavodokanal Municipal Unitary Enterprise Ilyas Gilmutdinov.

In 2018, the claim for bankruptcy of FDIRC was already considered by the arbitration court. Then the initiative was taken by the ‘VGTRK’ Federal State Unitary Enterprise. However, in the course of the court hearings, the initiator of the insolvency of the fund retracted his application, since the company managed to pay off the main debt.