VOSTOK-1 FISH FARM INITIATED ITS OWN BANKRUPTCY AGAINST THE BACKGROUND OF A LAWSUIT FILED BY THE PROSECUTOR GENERAL'S OFFICE

VOSTOK-1 FISH FARM INITIATED ITS OWN BANKRUPTCY AGAINST THE BACKGROUND OF A LAWSUIT FILED BY THE PROSECUTOR GENERAL'S OFFICE

VOSTOK-1 FISH FARM INITIATED ITS OWN BANKRUPTCY AGAINST THE BACKGROUND OF A LAWSUIT FILED BY THE PROSECUTOR GENERAL'S OFFICE
Another trial was initiated by Rosrybolovstvo, which is seeking the withdrawal of fishing quotas from the enterprise. On October 22, the Primorsky Arbitration Court (AS PK) registered an application for its own bankruptcy filed by the Vostok-1 fishing collective farm (AO).

Currently, the court has not yet begun proceedings on this document. The total amount of financial claims against the company reaches 240.4 million rubles. The lawsuit is scheduled to be considered on November 19. 

At the same time, another trial is developing. The Prosecutor General's Office demands that the assets of the fishing enterprise be converted into state ownership. The hearing on this lawsuit, originally filed in August, took place on October 24, and its continuation is scheduled for the 31st. 

The key requirement of the department is to cancel the contract concluded by the collective farm with the relevant department. According to the agreement, Rosrybolovstvo assigned quotas for catching biological resources to the enterprise. According to the prosecutor's office, these transactions caused damage to the state by 37.6 billion rubles. The supervisory authority demands to compensate for this damage with shares of the organization, collecting them to the state revenue. 

The range of persons acting as defendants in the case is very wide. In addition to the company itself and its CEO, Alexander Saifulin, it includes individuals recognized as co-owners of the company, as well as foreign legal entities from Korea and the United States. 

As part of securing the claim, the court imposed a number of restrictions: shareholders are prohibited from reorganizing the company, assets are seized, including shares in other firms, and mining under disputed quotas is prohibited. Later, some of the prohibitions were relaxed, allowing payment for port maintenance of ships. Against this background, the shareholders of Vostok-1 expressed their willingness to voluntarily transfer their shares to the state. The draft settlement agreement has already been sent to the Prosecutor General's Office. 

The collective farm was founded in the capital of Primorye more than a quarter of a century ago. The organization was engaged in the extraction of seafood, primarily the deep-sea strigoi crab. The organization's fishing fleet includes 5 crab fishing vessels, 2 transport vessels and 8 longline fishing vessels. The annual revenue of the collective farm has recently been stable at about 3.2–3.8 billion annually.

    

Photo: Freepik

29.10.2025