THE FINNISH ARENA OWNED BY RUSSIANS MAY BE BANKRUPT DUE TO SANCTIONS

THE FINNISH ARENA OWNED BY RUSSIANS MAY BE BANKRUPT DUE TO SANCTIONS

THE FINNISH ARENA OWNED BY RUSSIANS MAY BE BANKRUPT DUE TO SANCTIONS
The company managing the Helsinki Hall arena in the Finnish capital may be declared bankrupt. The organization turned out to be insolvent due to sanctions, since it cannot pay the payments made to it by the city authorities and public utilities.

The sports and concert venue began its work in the spring of 1997. According to TASS, it is the largest indoor arena in the country. During the hockey games, its stands can accommodate 13,349 people. The complex allows concerts with an audience of up to 15 thousand people. It was acquired in 2013. Before that, it was owned by Finnish entrepreneur Harry Harkimo.

According to the published data, the current owners of the arena through the firm Arena Events Ltd. The billionaires are Roman Rotenberg and Gennady Timchenko. Both are under EU sanctions. The Helsinki Halli Oy company has already owed about ˆ106 thousand for the lease of a land plot. And this is far from the only uncovered commitment.

According to the 12th package of sanctions, the owners could voluntarily sell the object until June 30, 2024 through the sale of shares of the company. Finnish media suggest that they did not do this and now the city authorities are considering other options to decide the fate of the facility. The site has been inactive since February 24, 2022.

Until July 1, 2024, when permits from the EU were in effect, heating and electricity bills were still being paid. They were conducted by third parties. Now the heating in the building is turned off, and the company has to cover debts on its own, which turned out to be impossible due to sanctions. The legal problem is that there is money, but the company cannot use it.

A representative of the Finnish Foreign Ministry reported at the end of June that the object could be confiscated by the state, but this would require the adoption of special regulations. There are also buyers who want to purchase the capital arena in Helsinki. The possible cost of the site is estimated at ˆ57 million.

16.08.2024