TRANSNEFT CONTRACTOR BANKRUPTS RUSSIAN SUBSIDIARY OF SWISS CONCERN

TRANSNEFT CONTRACTOR BANKRUPTS RUSSIAN SUBSIDIARY OF SWISS CONCERN

TRANSNEFT CONTRACTOR BANKRUPTS RUSSIAN SUBSIDIARY OF SWISS CONCERN
Neftegazotechnologies (NGT), a large Samara contractor of the Transneft holding, initiated bankruptcy proceedings for the Russian subsidiary of the Swiss concern Cofely AG. We are talking about the company Kofeli Geboydetechnik (LLC). The Moscow Arbitration Court (AC GM) satisfied the requirement by introducing surveillance against the debtor.

The conflict between counterparties has a long history. It began with a 2020 contract for construction and installation work in the Kaluga Special Economic zone. The plaintiff accused the partner of missing deadlines due to the failure to provide project documentation.

For her part, the defendant referred to the poor-quality performance of the work and claimed to have repaired the defects herself, refusing to pay in full. The result of the disagreement was a debt owed to the Samara company in the amount of about 38 million rubles.

The litigation between the parties lasted for three years and ended in June 2025 with the decision of the Supreme Court of the Russian Federation, which fully supported the position of NGT and rejected the counterclaims of the foreign company. Following this, the Samara contractor began active actions to bankrupt the debtor. 

NGT is a serious player in the market. The company was established four years ago, but it has been reporting on its activities since 2012 on its official website. The company is engaged in construction work, remaining the general contractor of Transneft. In 2024, the company managed to generate 24 billion in revenue, earning about 4 billion rubles in net profit. Yuri Matsenko and Sergey Makarov own the business. 

The defendant is a company that installed engineering systems. According to experts, the company has become a victim of the changing international situation. Cofely AG, a Swiss group that has been active in Russia for more than two decades, began shutting down its operations in the Russian market three years ago. Her "daughter" stopped publishing financial statements, and the staff was reduced to one person, which indicated the actual cessation of operational activities. 

Experts are skeptical about the prospects for the exit of Kofeli Geboydetechnik from insolvency. According to analysts, a company that has not been operating for several years is unlikely to have liquid assets. Even if the parent structure wishes to provide support, the transfer of funds in the current conditions is associated with insurmountable legal obstacles. 

The probability of debt repayment for NGT is estimated as extremely low. The Federal Tax Service has also joined the bankruptcy process, which further complicates the situation of the foreign company. AU Vitaly Sviridov from AAU "Sirius" was appointed as the curator of the procedure.

 

Photo: Freepik

23.09.2025