ST. PETERSBURG DEVELOPERS HAVE CONCLUDED A SETTLEMENT AND AVOIDED BANKRUPTCY

ST. PETERSBURG DEVELOPERS HAVE CONCLUDED A SETTLEMENT AND AVOIDED BANKRUPTCY

ST. PETERSBURG DEVELOPERS HAVE CONCLUDED A SETTLEMENT AND AVOIDED BANKRUPTCY
Alfa Faberge construction company avoided bankruptcy by agreeing with creditors. The organization has concluded amicable agreements with PLF JSC (PLG structure) and L-Industry and Sinopskaya Embankment companies affiliated with the developer.

According to RBC Petersburg, the deal was finalized on May 23, 2024.

At the end of February, Rusbankrot reported on a lawsuit that the company had received from L-Industry (case no. A56-16843/2024). On March 25, the court recognized the company's insolvency application as justified by introducing a monitoring procedure. The tax authorities (MI FTS No. 25) and Alfa-Bank JSC soon applied for entry into the case. The court planned to consider their demands on July 9.

Alfa Faberge (LLC) has been in existence since 2019 and is owned by CEO Vitaly Bakharev. The company gained fame by acquiring the Meltzer Hall residential complex construction project from the Swedish construction company Bonava in 2019. The most active critic of the architecture of the project was then the speaker of the St. Petersburg Legislative Assembly Vyacheslav Makarov.

The conflict relations between the structures of PLG (formerly Plaza Lotus Group) and the Bakharev company began in 2022. The stumbling block was the project of a hotel located near the Peterland shopping center on the shore of the Gulf of Finland. Alfa Faberge managed to buy it out from the holding company founded by the Zingarevich brothers by acquiring the company that owns the project, PLG.

The company owned the right to lease a plot of land (2.9 hectares) on which the hotel was planned to be built. The area of the hotel complex was supposed to be 118 thousand square meters. meters. The amount of the transaction was not advertised, but according to experts, it could amount to about 2 billion. Investments in the project itself were estimated at 10 billion. However, Alfa Faberge did not pay the entire amount of the transaction by March 2023.

L-Industry borrowed 70 million from Alfa Faberge without interest payments. However, the borrower managed to pay only 21 million. This was the reason for applying to arbitration with a bankruptcy claim.

Now it is assumed that Bakharev's firm will be able to resolve the conflict using financial assistance from Sberbank. The agreement itself between the parties to the litigation has yet to be approved in court in June 2024. The loan agreement itself, as reported in the company, has already been signed. After the document is approved by arbitration, the dispute between the developers must be completed.

28.05.2024