INTERREGIONAL RAILWAY BUILDER WILL BE BANKRUPTED DUE TO UTILITY DEBTS

The Arbitration of the Komi Republic began to investigate the validity of the claim filed against MK "Belkomur" in March 2023 (case no. A29-2900/2023). The initiator of the bankruptcy process of the company was the company "Komi Municipal Technologies", subordinated to regional officials. The reason for the insolvency was a debt of 13.78 million rubles.

In the Ruling of Judge Natalia Rakina, dated May 11, 2023, it was reported that the defendant has been in liquidation since December 12, 2022. At the same time, according to local media, 95% of the company's shares are owned by three subjects of the Russian Federation (Arkhangelsk Region, Komi Republic, Perm Krai).

The company has not been operating for the last four years, has no employees, and there are not enough assets to pay debts (including the liquidator's fee). As a result, the tax authorities were involved in the case (as a third party), and the hearing in court was postponed until June 29, 2023.

MK "Belkomur" (JSC) appeared in Syktyvkar in 1996. It was assumed that the company would begin construction of a railway connecting the Urals and Siberia with the enterprises of the north-west. However, it was possible to build only 40 km of tracks on the territory of the Udorsky district (Komi) in 1998-1999. The firm did not present any results after that.

The authorized capital of the JSC is over 1.35 billion rubles. The main beneficiary is the Komi Republic, which owns a 48.8% share. Another 15.53% is owned by the Komi Republic Development Corporation, established by the authorities. About 19.82% of the shares are assigned to the Arkhangelsk region. And the smallest share of 9.42% belongs to the Perm Region, which was once the main initiator of the railway project.

Photo by Freepik