RusBankrot
We know everything about bankruptcy
18/11/2024
Monday
THIS DAY IN HISTORY:
18 November 
1970 Massachusetts was the first state of the USA to recognize same sex marriages.
1970 Velvet Revolution in Czechoslovakia.
1970 The bloodiest battle of the First World War, the Battle of the Somme, was finished.
18 November
1970 Massachusetts was the first state of the USA to recognize same sex marriages.
1970 Velvet Revolution in Czechoslovakia.
1970 The bloodiest battle of the First World War, the Battle of the Somme, was finished.
Will Rusnano file for bankruptcy ?
On November 19, Rusnano announced its debt obligations for 150 billion rubles. Shortly before that, the regulator temporarily suspended trading the company's bonds on the Moscow Stock Exchange. Now the experts are discussing whether Rusnano will face a default, but how the possible bankruptcy of a state corporation may affect the economic situation in the Russian Federation?
Expert Marat Bashirov in his personal telegram channel calls Rusnano a virtual bankrupt. According to the political scientist, only the state treasury, financed by the tax payments of Russians, can save the corporation from default. Where exactly the investors' money went is unknown, but now the management of the organization will have to find funds in order to pay the bills on obligations.
The information that the company is negotiating a restructuring procedure is described by many stock market experts as unprecedented. As the regulator said last Monday, it ordered to suspend trading Rusnano’s securities in order to protect bondholders and counteract possible insider exchange trading.
The former head of the corporation, Anatoly Chubais, left his post at the end of last year. His place was taken by Sergei Kulikov, the former first deputy chairman of the military-industrial complex. After that, at the beginning of 2021, a regulatory act obliging state corporations (including Rusnano) to report on the results of their activities to the Government of the Russian Federation was issued.
The financial problems of Rusnano have been known to experts for a long time. In the results of the audit conducted in the corporation for the first half of the year, it was reported that the difference between current assets and short-term liabilities was 34 billion rubles. It was apparently planned to repay such obligations at the expense of the state, but something went wrong and as a result, the effect of a possible restructuring could now be experienced by the entire market of the country.
Expert Marat Bashirov in his personal telegram channel calls Rusnano a virtual bankrupt. According to the political scientist, only the state treasury, financed by the tax payments of Russians, can save the corporation from default. Where exactly the investors' money went is unknown, but now the management of the organization will have to find funds in order to pay the bills on obligations.
Bond loans of Rusnano reached 58 billion rubles by mid-2021.
The corporation also owes about 76 billion rubles to credit institutions. Given the past experience, many experts agree that the Russian authorities will not leave their offspring without financial assistance. If it comes to a real default, troubles can be experienced by other similar companies, the capital of which is wholly owned by the state (for example, Gazprom, Aeroflot, VEB).The information that the company is negotiating a restructuring procedure is described by many stock market experts as unprecedented. As the regulator said last Monday, it ordered to suspend trading Rusnano’s securities in order to protect bondholders and counteract possible insider exchange trading.
The former head of the corporation, Anatoly Chubais, left his post at the end of last year. His place was taken by Sergei Kulikov, the former first deputy chairman of the military-industrial complex. After that, at the beginning of 2021, a regulatory act obliging state corporations (including Rusnano) to report on the results of their activities to the Government of the Russian Federation was issued.
Experts note that Rusnano remains an investment company and therefore possible risks in spending financial resources are inevitable.
At the end of 2020, the corporation's investment portfolio amounted to 133.5 billion rubles, which were invested in 51 projects. At the same time, the financial return from them then amounted to 11.1 billion rubles, exceeding the results of 2019 by almost two times.The financial problems of Rusnano have been known to experts for a long time. In the results of the audit conducted in the corporation for the first half of the year, it was reported that the difference between current assets and short-term liabilities was 34 billion rubles. It was apparently planned to repay such obligations at the expense of the state, but something went wrong and as a result, the effect of a possible restructuring could now be experienced by the entire market of the country.
24.11.2021
