VOLGA BUNKER THREATENS BANKRUPTCY TO THE OWNER OF THE VOLGONEFT-239 TANKER

VOLGA BUNKER THREATENS BANKRUPTCY TO THE OWNER OF THE VOLGONEFT-239 TANKER

VOLGA BUNKER THREATENS BANKRUPTCY TO THE OWNER OF THE VOLGONEFT-239 TANKER
The Volga-Bunker company in Moscow announced its plans to apply to arbitration for bankruptcy of Volgatransneft, which owns the Volgoneft-239 tanker. The notification was posted on January 13 on the Fedresurs portal. This decision is related to Volgatransneft's debt under previously concluded transactions (case no.A40-131217/2023).

Almost a year ago, the Moscow Arbitration Court (AS GM) adopted a judicial act, obliging it to recover 6.5 million rubles from Volgatransneft. The lawsuit concerned six tankers transferred under contracts dated 2022. The total cost of the vessels was more than 6 million. But the payment obligations, which expired in 2022, have not been fulfilled.

The economic situation of Volgatransneft continues to deteriorate. In 2023, the company generated only 89.8 million in revenue. At the same time, the losses exceeded 61 million. The financial condition of Volga-Bunker is also not encouraging, as the company's profitability in 2023 did not exceed 2.2 million rubles.

After the tragedy in the Kerch Strait, which occurred on December 15, 2024, the situation turned out to be as tense as possible. The collapse of two tankers (Volgoneft-212 and Volgoneft-239) led to a spill of petroleum products.

Litigation can become a serious stage in the resolution of debt obligations between the parties. However, the prospects for satisfying creditors' claims remain questionable due to Volgatransneft's overall financial condition. Experts believe that the court's decision may also affect the future of other assets of the company that may be involved in recovery procedures.

16.01.2025