CREDITORS RESUMED THEIR ATTACK ON NOVOROSMETALL

A new application for insolvency has been submitted to the Krasnodar Arbitration Court (AC KK) by Novorosmetall, one of the largest metallurgical companies in the southern regions of Russia. The application was initiated by Yufoil, a Rostov-based company operating in the lubricant market. Although the court has not yet accepted the application, the fact that it has been submitted has already attracted the attention of market participants.

The reason for the lawsuit was the company's debt to its counterparty. However, Yufoil chose not to disclose the exact amount of the claims or their subject matter. Interestingly, in March of this year, the same Rostov-based company had already filed a lawsuit against the metallurgists, demanding the recovery of 5.1 million rubles. The dispute was resolved amicably.

The situation surrounding the plant continues to escalate. According to the court records, the plant is involved in 61 court proceedings as a defendant. The volume of claims against the company exceeds 243,000. The vast majority of the claims relate to delivery delays and violations of contractual terms.

The economic situation at the plant is a cause for serious concern. In 2025, the company's net loss increased 14-fold, from 358 million to 5.1 billion. Revenue, on the other hand, decreased by almost half, from 19.2 billion to 10 billion. The management of Novorosmetall attributes the decline to the contraction of the construction sector and, as a result, a decrease in the consumption of metal products. 

The current lawsuit is just one of the episodes of the crisis. Several major companies have already announced their intention to bankrupt the plant this spring. In addition, in February, the tax authorities (MI FNS No. 10) filed a similar lawsuit in arbitration. At that time, the management of the enterprise attributed the difficulties to the industry crisis and requested a payment plan for mandatory payments. 

This is not the first time that Novorosmetall has faced insolvency proceedings. In 2017, surveillance was already introduced at the request of the tax service. At that time, the principal debt reached 898.2 million, and penalties and fines amounted to another 470.66 million. However, then the company managed to pay off the budget, and the case was closed. 

The general background also does not add optimism. The metallurgical industry is experiencing a prolonged decline: according to forecasts, by the end of 2025, steel production in Russia may decrease to 66.5 million tons, and domestic consumption may decrease to 38.9 million tons. In addition, market participants continue to be pressured by low export margins and sanctions restrictions. In such conditions, even systemically important enterprises are at risk.