ROSTOV AGRO-ALLIANCE IS DECLARED BANKRUPT

ROSTOV AGRO-ALLIANCE IS DECLARED BANKRUPT

ROSTOV AGRO-ALLIANCE IS DECLARED BANKRUPT
On December 3, 2024, the Rostov Arbitration Court issued a resolution on the bankruptcy case of Agro-Alliance (case No. A53-677/2023). Bankruptcy proceedings are scheduled until January 13, 2025.

The candidacy of Alexander Andriashin, representing the Association of Leading Arbitration Managers "Dostoyanie", was approved for the role of the procedure manager. He will also be responsible for the sale of the remaining property and satisfaction of creditors' claims. The next court hearing is scheduled for early 2025, when the current state of affairs will be reviewed.

The company's financial difficulties began with the filing of a lawsuit early last year. The bankruptcy petition was initiated by Magnitogorsk metallurgists (PJSC MMK), to whom Agro-Alliance turned out to owe 123.7 million for the delivered goods. In the summer of 2023, the organization was placed under surveillance. This was the first stage in the process of declaring the company insolvent.

Later, other applicants, including Metalldonservice, were added to the register of creditor claims. Obligations to it amounted to 81.4 million. MMK also joined the process with claims in the amount of 12.3 million rubles. As a result, the company's accounts payable by the end of 2023 amounted to 339.6 million, while accounts receivable amounted to only 391 million.

The history of the company dates back to 2005. It was then that a company specializing in the wholesale trade of metals and various ores was established. The head and owner of the company is Tamazi Dolenjashvili. In 2023, the organization suffered a loss of 44.1 million with revenue of 193.4 million.

Among the creditors are not only large enterprises (for example, MMK and Metalldonservice), but also smaller-scale structures (including Medical In and Bris). The recognition of bankruptcy was a natural result of the deteriorating financial situation, and the further development of the situation will depend on the actions of the bankruptcy trustee and court decisions.

06.12.2024