PERM ROAD BUILDERS DECIDED TO SETTLE WITH CREDITORS THROUGH BANKRUPTCY

Just two organizations from Perm, members of the Permavtodor group of companies, applied to arbitration a few weeks ago with statements of their own insolvency. The reason for this step in the holding is called noticeably increased prices for materials and spare parts for road construction. According to lawyers, companies have the opportunity to get out of the state of insolvency, however, much depends on the desire and ability of debtors to survive in a difficult economic situation.

The debt of the company "Dortehengineering" is more than 555 million rubles. The company applied to arbitration at the end of August, but did not accompany its application with information about the payment of the state fee. Therefore, the court left the claim without motion until October 5.

The company joined the Permavtodor Group of Companies in 2017. Prior to that, the organization became known as a contractor who won tenders for the repair and maintenance of the roadway in the Leninsky district of Perm. 

The total value of the agreements concluded at that time was about 680 million rubles. It is reported that the company continues to work under two contracts related to the maintenance of roads in this area of the regional capital.

The company "Dortehstroy", also part of the holding, appealed to the court a little later. In a statement issued on September 7, the company indicated the presence of debt in the amount of 268.3 million. Since all the documents were in order when filing the claim, the court accepted it for production and scheduled the first hearing on the case for October 6.

The cost of contracts executed by Dortehstroy is less than that of Dortehengineering. It is known that in 2017 the company received an order for the maintenance of highways in the Kungur municipal district. Its cost was 5.1 million rubles.

According to data from open sources, both companies ended 2021 with losses. Their size at "Dortehengineering" is estimated at 125.2 million, and at "Dortehstroy" at 34.6 million rubles. At the same time, both firms received revenue of 1.2 billion and 4.7 million, respectively.

According to the head of the road-contracting holding Sergey Krutikov, quoted by Kommersant, the problems of the companies are related to the situation of the entire industry. 

Prices for spare parts and materials have increased markedly over the past few years of the pandemic, while the state has not provided special support measures. Since payments under previously concluded contracts were not indexed, enterprises actually began to generate losses.

The monitoring procedure, according to the director, will allow finding opportunities for financial recovery of both enterprises, protecting them for some time from fines and enforcement proceedings. The management of the organization assured that the business works in partnership with the regional government, which is also interested in preserving jobs and protecting socially significant enterprises.

However, according to experts, much will depend on the motivation of creditors. If the latter decide that it is more profitable to give companies a chance than to sell off their existing assets to compensate for debt obligations, enterprises will have a chance to get out of the financial hole and continue working in the market.

Фото: Изображение от graystudiopro1 на Freepik