We know everything about bankruptcy
14/06/2025
Saturday
14 June 
1970 The Schengen Agreement, which included five European states, was signed.
1970 The Schengen Agreement, which included five European states, was signed.
1970 China refused to recognize the USSR as the leaders of the communist movement.
1970 China refused to recognize the USSR as the leaders of the communist movement.
1970 The Hawaiian Islands became the territory of the US.
1970 The Hawaiian Islands became the territory of the US.
THE GEOISOL GROUP OF COMPANIES IS FACING A SERIES OF BANKRUPTCY LAWSUITS FROM ITS SUBSIDIARIES
The risk of going into bankruptcy court threatens the key companies of the group: Geoisola, UM Geoisol and Geoisol Freight. All of them specialize in civil engineering, including geotechnical and restoration work. Along with the filed bankruptcy applications, it is also known about the intention of another creditor, a Kaliningrad company, to also file a lawsuit with the court.
An analysis of judicial statistics shows that over the past 12 months, more than a hundred lawsuits have been filed against Geoisol. In total, the amount of claims reached 15 billion rubles. Almost two thirds of them – 9.3 billion – are in active production. The holding's structures are also listed as defendants in dozens of cases, which, according to experts, indicates a steady cash gap and difficulties in fulfilling obligations to contractors and counterparties.
The press service of the holding explains the situation as a violation of deadlines on the part of the customer. The implementation of a significant part of the projects was carried out in conditions of delays in payment, which led to financial difficulties. At the same time, according to the company, the volume of economic activity has been increasing in recent years, and the order portfolio includes large-scale infrastructure facilities.
According to the financial statements, the financial indicators of the group confirm the high level of debt. Accounts payable of Geoisol (LLC) amounted to 26 billion by the end of 2024. At the same time, interest obligations reached 200 million. A similar pattern is observed in subsidiaries – Geoizol Freight has debts exceeding 2.6 billion, while UM Geoizol owes 1.1 billion. The legal entities managed to repay loan obligations of 4 billion, which may indicate continued operational stability.
The wave of statements indicates the presence of systemic problems in financial management, but may be a consequence of the general situation in the construction industry amid rising borrowing costs. According to experts, filing a claim does not always mean actual insolvency. It is often a question of a way to influence the debtor in order to speed up payments. However, the legal risks remain.
While some of the lawsuits have been withdrawn or returned before the cases are initiated, the issue of Geoisol's long-term stability remains open. At the same time, another significant trial for the company is continuing – a criminal case related to the contract of the Ministry of Defense for the construction of a branch of the Nakhimov School. Representatives of the Geoisol Group of Companies have announced cooperation with the investigation and insist that the facility has been put into operation and is functioning, despite the general contractor's refusal to accept and pay for the work performed.
