COURT IMPOSES SURVEILLANCE ON THE "CONTOUR" COOPERATIVE WITH OVER 1.2 BILLION IN DEBT

COURT IMPOSES SURVEILLANCE ON THE "CONTOUR" COOPERATIVE WITH OVER 1.2 BILLION IN DEBT

COURT IMPOSES SURVEILLANCE ON THE "CONTOUR" COOPERATIVE WITH OVER 1.2 BILLION IN DEBT
Stavropol Arbitration Court (AS IC) launched the insolvency case of the Kontur consumer cooperative. Its head office is located in Pyatigorsk. The initiator of the process was the debtor himself, and his appeal was recognized as legally justified. The first stage of bankruptcy, surveillance, has been activated. It will last until December 9th.

The cooperative's financial situation is described as extremely tense. The total amount of its current debt obligations, which are funded by short-term loans and credits, reaches 1.267 billion. However, the balance sheet value of the organization's assets, as presented to the court, is almost twice the amount of its debt, amounting to approximately 2.2 billion. The critical level of overdue debt, exceeding 1 billion, served as the formal reason for filing for insolvency.

The court session, at which the first results of the procedure will be summed up, is scheduled for December 9. By this time, the manager (VU) will have completed the analysis of the cooperative's economic activities. The duties of the manager have been entrusted to Konstantin Dovbenko, who represents the Alliance Self-Regulatory Organization of Creditors' Associations. Based on his report, the court will make a decision on the next steps to be taken with regard to the cooperative.

 According to information from open sources, the company has been operating since 2002. The organization specializes in providing financial services to the public. The company is led by Evgeny Shchetsov.

As for the operating results, the reporting for the past year demonstrates a multidirectional dynamics. The company's revenue has seriously sunk, falling by 51% to the mark of 2.4 million. Despite the significant drop in revenues, the cooperative managed to finish the financial year with a positive result, recording a net profit of 258.2 million.

As part of the supervision procedure, the manager will have to conduct a detailed analysis of the debtor's property complex, identify all creditors and include their claims in the relevant register. The court will make a final decision on whether the cooperative will be restored or liquidated after examining all the materials provided by the interim manager.

20.07.2026