RusBankrot
We know everything about bankruptcy
27/04/2024
Saturday
THIS DAY IN HISTORY:
27 April 
1970 The opening of the subway in Yekaterinburg
1970 The opening of the subway in Yekaterinburg
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The beginning of the civil war in Afghanistan, which continues up to this day
1970 The beginning of the civil war in Afghanistan, which continues up to this day
27 April
1970 The opening of the subway in Yekaterinburg
1970 The opening of the subway in Yekaterinburg
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The beginning of the civil war in Afghanistan, which continues up to this day
1970 The beginning of the civil war in Afghanistan, which continues up to this day
ZENIT BANK REFUSED TO FILE A LAWSUIT AGAINST A STATE-OWNED TRANSPORT LEASING COMPANY
On March 19, 2024, the Moscow arbitration Court terminated proceedings on the claim of Zenit Bank filed in October 2023 (case no. A40-240242/2023). The credit institution demanded to recover over $9.7 million from the "State Transport Leasing Company" (STLC). The reason for the closure of the case was the bank's rejection of the claim. The petition for refusal was sent to the court on March 6.
The statement from the bank, which is under the control of Tatneft, was related to the violation of the defendant's obligation on bonds issued by subsidiaries of GTLK. The plaintiff initially demanded to recover their nominal value (about $9.3 million), unpaid coupons (over $475 thousand) and lost profits from August 19, 2022 to October 17, 2023 (about $ 6 thousand). In addition, the claim stated the recovery of interest until the execution of the court decision.
As third parties, GTLK's "daughters" in Ireland, GTLK Europe DAC and GTLK Capital DAC, tried to involve in the case. BNY Mellon Corporate Trustee Services Ltd was also involved in the case. In total, as it is known, 6 Eurobond issues were placed by foreign structures at a total face value of $3.25 billion.
The reason for the financial problems with securities were the sanctions imposed against the Russian Federation by the EU, the UK and the USA. In May 2023, the head of state issued a decree obliging Russian organizations to issue bonds by the beginning of 2024, which will replace Eurobonds with unfulfilled obligations. This would allow Russian issuers to fulfill their obligations to the holders of securities.
As you know, GTLK is a federally owned company. Its work is managed by the Ministry of Finance and the Ministry of Transport. The organization is engaged in leasing of road, marine, aviation and railway equipment. For some time, the company was one of those who did not solve the problem with payments. This has caused a number of lawsuits. For example, in 2022, the First Criminal Code filed a lawsuit against STLC for 3.15 billion. Private investors also applied to the company with financial requirements.
In October 2023, STLC announced that all Eurobond issues would be replaced by the end of the year. The missed coupon revenue will be paid out. In mid-November, it became known that the Central Bank of the Russian Federation had registered all replacement bonds.
During the litigation of Zenit Bank with STLC, the arbitration court of the capital decided to transfer the case to the arbitration of the Yamalo-Nenets Autonomous District, but this act was appealed on appeal. Then Zenit clarified the claims, reducing them to $ 6 thousand (the amount of damages). In March, a petition was received for the bank to completely dismiss the claim.
The statement from the bank, which is under the control of Tatneft, was related to the violation of the defendant's obligation on bonds issued by subsidiaries of GTLK. The plaintiff initially demanded to recover their nominal value (about $9.3 million), unpaid coupons (over $475 thousand) and lost profits from August 19, 2022 to October 17, 2023 (about $ 6 thousand). In addition, the claim stated the recovery of interest until the execution of the court decision.
As third parties, GTLK's "daughters" in Ireland, GTLK Europe DAC and GTLK Capital DAC, tried to involve in the case. BNY Mellon Corporate Trustee Services Ltd was also involved in the case. In total, as it is known, 6 Eurobond issues were placed by foreign structures at a total face value of $3.25 billion.
The reason for the financial problems with securities were the sanctions imposed against the Russian Federation by the EU, the UK and the USA. In May 2023, the head of state issued a decree obliging Russian organizations to issue bonds by the beginning of 2024, which will replace Eurobonds with unfulfilled obligations. This would allow Russian issuers to fulfill their obligations to the holders of securities.
As you know, GTLK is a federally owned company. Its work is managed by the Ministry of Finance and the Ministry of Transport. The organization is engaged in leasing of road, marine, aviation and railway equipment. For some time, the company was one of those who did not solve the problem with payments. This has caused a number of lawsuits. For example, in 2022, the First Criminal Code filed a lawsuit against STLC for 3.15 billion. Private investors also applied to the company with financial requirements.
In October 2023, STLC announced that all Eurobond issues would be replaced by the end of the year. The missed coupon revenue will be paid out. In mid-November, it became known that the Central Bank of the Russian Federation had registered all replacement bonds.
During the litigation of Zenit Bank with STLC, the arbitration court of the capital decided to transfer the case to the arbitration of the Yamalo-Nenets Autonomous District, but this act was appealed on appeal. Then Zenit clarified the claims, reducing them to $ 6 thousand (the amount of damages). In March, a petition was received for the bank to completely dismiss the claim.
21.03.2024
